"to have 5% of the stock first then you are obliged to notify the ASX if your intent is to launch a take over bid."
it's 20% not 5%.
They could have used the announcement to let people know about the short fall in the cap raising. Maybe they are trying to sweep it under the carpet. Out of sight, out of mind
AVQ Price at posting:
35.0¢ Sentiment: Sell Disclosure: Not Held