The possibilities are endless the stated purpose capital rise could be anything. I doubt it is acquisition raising in this market is highly dilutive and the wording on the ASX release doesn't fit that type of communication. An unexpected cost, perhaps some form of litigation, or something else of a dire nature.
Bottom line is they are raising capital and they are not ready to talk about it today so this is either something that caught them by surprise or they have mismanaged.
Almost certainly its not good news.
ALC Price at posting:
9.7¢ Sentiment: None Disclosure: Held
