Ann: Kingsgate completes $46M institutional placement, page-166

I will happily confess I am not a banker, or a financial adviser. Nor am I privy to the data that the management team have before them.

I think a professional would best be placed to answer your question. At any rate, they would get paid for their advice.

Your question though does worryingly imply that the company was cornered with no alternative escape route other than suddenly to opt for a heavily discounted CR. If so, I am not saying this was the case, why do you think they found themselves in this tricky situation? Do you think they had taken their eye off the ball? Was a juicy share price just too tempting not to take advantage of?

I look forward to hearing your answers to these questions. It would help me think about how best to shape an answer to your question later tonight.