I cant believe they couldn't wait a bit longer before doing this raising. They are not desperate for cash. Only a week ago did the SP hit an all time low.
I reckon it will be a a 1 for 8 rights offer at 20c which they will claim is a 20% discount over the VWAP over the last 3 trading days.
Given the SP was at 16-18 cents only last week I will need some convincing to put more money in. If they want the raising to be successful they need to sweeten the deal with some news on more sales. Cheers, and Goodluck
Ann: Trading Halt, page-6
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