I agree. Like i said, i am hoping for them to pull a rabbit out of the hat in the next week, either way though i'm going to be throwing some money down. Its very unfortunate really, they couldn't have picked a worse time to be doing a raising considering the spec market at the moment. Had they have done this with market sentiment of late last year the outcome would have been very different IMO. There is obviously many other factors at play than just broader market sentiment that has lead to the current SP but its definitely an important factor.
You are correct, the issue price is a 20% discount on the VWAP of the 5 days prior to the issue date (15th May)
Ann: Share Purchase Plan, page-27
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