Yes well if you go to the company letter you will find that the request for tading halt is so that they can make an announcement .....probably Monday before trading begins....about a "material capital raising"
Now does that mean that shareholders are going to be asked to stump up some funds through a Rights issue.........
OR does it mean that they have gained finance from "sophisticated investors" ....perhaps with Patersons help to provide a few million to keep them going through the next 12 months?
Personally I doubt that they would rely on shareholders in the given circumstances unless they made the conditions very attractive.
Or unless such an offer to shareholders had a big element of underwriting by Patersons.
I'll go for "sophisticated investors"
Place you bets gentlemen
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