Ann: Telstra Shop Franchises To Sell Spacetalk Watch, page-21

Cap raise clearly done for growth - distribute to stores and increase marketing/sales budget and employ for new positions. Hope these trial in the stores goes well and we see more stores coming on board to sell the watches.
Without a cap raise, the company wouldn’t be able to grow or work on leads at the same rate so the dilution of the raise will lead to my actual holding being worth more. So I am all for it and will participate in the SPP.
To offer a SPP amount the same as the placement is unusual in that the current shareholders usually get a much smaller percentage of the overall cap raise.
So thanks to management.