Ann: Prospectus, page-5

I won't be taking up my allocation, I personally have all I want to risk in SRN (small amount). But had a read.

Even if the PFS goes well, and the Saudi deal is on track - they needed cash desperately.

I also think, if they were expecting very good news and wanted to get them and mates more shares, this is a great way to do it. If you notice, the shortfall shares if not taken can be assigned. Not irregular, but sure is a nice way to hand out freebies.

Of course, if the PFS was bad, you'd also raise now. Though I expect PB would have been doing a lot more to pump, and would have raised earlier.