Not as bad dilution wise as I thought it may be, only 100M on offer to raise up to $5m ( A touch over 8%). I still think they should have waited Approval to proceed to Application Process, but no use harping on that as it's already water under the Bridge.
On the other hand 0.050 may be a profitable gift to existing shareholders in the near term should Approval to proceed be given by Qld Gov. The only difficulty for the small retailer is finding the change to purchase. Should there be a short fall I don't imagine they will have any trouble at all in placing them.
Anyone for any other thoughts?
Ann: SPP to Advance Blue Gum Gas Project, page-2
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