20millon capital raising, page-18

Peach

Agree . yes we needed a capital raising sometime soon
and yes in a tough market a higher discount is perhaps just understandable .. not so the lack of a shareholder component. A raising will however set them up for future growth .. that's good!

We are all probably mostly annoyed at the timing ... I would hazard a guess that many (myself included) bought shares at much higher prices over the last week in anticipation of the lateral results and the impact that would have on the share price .. we didn't want to miss out on the rise. Then the very next day after preliminary lateral results we get an issue at a big discount ... before the share price has a chance to appreciate on the back of the good results (it went nowhere on Monday held down by a capper IMHO). If they had waited a few more weeks I reckon shareholders and the market generally would have pushed it up higher and they could have done the issue at a better price. That is what is annoying!

The only silver lining is that if we are still convinced by the ESG story we may all get a chance to top up in the 60s.

H