Ann: Trading Halt, page-35

You may be sure there's a retail component, but I can't find any mention of it. I thought it may come to pass in 'Tranche 2', but the only mention of retail shareholders is that they will get to vote on whether or not it goes ahead. Of course, any retail shareholders that take the trouble to vote will be completely swamped by institutional and sophisticated investors.

The method of presentation is disappointing too. The nature of the CR doesn't get a mention until page 4 of the main announcement, and in the presentation (which starts with 4 pages of 'Disclaimers' and a fairy story), it appears on page 26, where you can read:

"De Grey is seeking to raise A$300 million via a fully underwritten two-tranche institutional placement to sophisticated andprofessional investors
▪ Tranche 1 to raise approximately A$246.0 million utilising the Company’s placement capacity under ASX Listing Rule 7.1(“Tranche 1”)
▪ Tranche 2 to raise approximately A$54.0 million subject to shareholder approval at a General Meeting (“GM”) expected to beheld in November 2023 (“Tranche 2”)"

... oh, there is another reference to the little guys in the 8 pages of 'Key Risks', where they concede that "Funding via additional equity issues may be dilutive to the Company’s existing shareholders ..."

Lawyers' picnic.

BTW I don't hold, but was likely about to jump in. Probably will now.