I have to say that the timing of this placement is completely absurd.
Given that the qtrly had it's positives why would you not then wait for that to have some effect.
ie. if the share price had popped to say .14 or even .15 over a couple of weeks they could have then placed an issue at say .12 and maybe got a reasonable take up.
Instead by announcing upfront they gave zero opportunity for any flow through from the qtrly.
Dumb......REALLY DUMB!
Ann: Share Purchase Plan , page-41
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