Ann: Quarterly Activities Report and Appendix 5B June 2015, page-7

From management's perspective I think it's a good play considering they only raised what they needed. For holders it just means some more dilution but like you said management's money is also on the line so shareholders are in pretty safe hands.

Rule 1 after duo don't buy into a shell of management down own a large chunk! If only we could learn these lessons the easy way