Perhaps this was planned for the last couple of weeks and with the recent 300% coal upgrades I am sure CTP were expecting the SP to be well above the current levels. Now after seeing the share price stagnate around the 10-11 cent mark even after such a positive announcment management have no option but to announce the Cap raising.
I have no idea what the money will be used for, however I doubt it was a spur of the moment announcement.
Ann: Trading Halt , page-96
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