Ouch., page-14

I am obviously swimming upstream here, but I am very happy with the capital raise.

This is a strong emerging business demonstrating growth, a strong order book, and which is becoming profitable and cash flow positive for the first time.

The only concern I had, or at least conventional wisdom obsessed over, was the debt and lack of capital reserves. This raising takes care of that and provides funding for promising new projects going forward.

I do expect the price to drop short term, as it always does. I sold part of my holding this morning at 18.5 (lucky guess) but will be buying back with my remaining rights and subscribing for as many extras as I can.

I like the underwriters think this is excellent value. Onward and upward, and maybe even a modest maiden dividend this year.