$15m cap raise Fresh Equities at 24c, page-96

Just to clarify for guys here who are unsure...

Raise is $36.8m @24c with a free 1 for every 2 48c option with 3yr expiry. Breakdown is $15m from instos BUT importantly $21.8m goes to existing holders through a 1 for 7 entitlement offer. You'll have till end of November to get in on this. This is official.

For those above suspecting that something untoward is going, don't worry... it is quite normal for the full announcement to be withheld until completion of the bookbuild. Nothing sneaky... just the way it is done for most companies and raises. The company is in halt so nobody can act on any unreleased information anyway. It will be officially announced, along with the results of the raise, before coming out of halt.

For those complaining about dilution, this is about as non-dilutionary to existing shareholders as I have ever seen. It is very rare to see a raise where majority goes to existing holders. I have been highly critical myself of companies that sell the farm from existing holders to give instos, who swoop in at the last moment, an amazing deal... but that is not the case here and I think Mark has lived up to his promise to try and protect existing LTH's. Now you have minimal dilution and the $36m we need.

Now we just need to wait until next week to see the outcome. Hope this helps.

GLTAH