Ann: Trading Halt , page-14

Baggins of course it's a guess,I bought 15,000 @36.5 yesterday which I wouldn't have done if I knew a raising was coming.I also took it as a pick in the STT threads last week which again I wouldn't have done if I had any inkling of a raising. I do think thought that PP is pretty astute and he would know that the standard 20%+ discount would not be well received by the market .I am not sure how much a company is allowed to raise at one time without going to shareholders and asking,it's either 10% or 15% .
I just reckon holders and the market would accept them raising a few million to progress their drilling campaigns and it would be prudent to do so rather than waiting until they had bugger all cash and then going cap in hand to the market