Ann: Placement and Share Purchase Plan , page-2

My initial reaction is to vote against this capital raising as it does not give existing shareholders the opportunity to preserve their share of the company and take advantage of the discount, in proportion to their current holding. The only shareholder that gets to preserve their stake in the company is the chairman, Graeme Robertson.

The discount offered to the current share price (45c compared to approx 55c) is at the expense of exisiting shareholders who have experienced drop in the share price of ATQ to accommodate the instos. It should have been a rights issue and not an SPP of a maximum of $5,000. I know this may be significant to some, but not to many other shareholders.

What do others think?