Ann: Share Purchase Plan Oversubscribed and Top Up Placement, page-6

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trader_10

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29/11/17

10:40

Post #: 29206367
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Originally posted by D1326 ↑

I have been a shareholder since day one of this company but am disgusted at the latest capital raising.
Management announced a C.R. of 1 million with Pattersons as underwriters...easy to achieve as you only need 67 shareholders to subscribe to the maximum and you have raised your required capital. I did not participate initially as I was happy with my allocation and not too worried about dilution at $1 mill. I had purchased again last year to support the company when the shares were being dumped. I have participated in every capital raising since day 1 except for this one.
When management extended the closing date I became suspicious about their true intentions and so purchased but too late.
I don't think any shareholders should be happy with a company that makes an announcement to raise 1 million and then extends the closing date and raises 3.75 mill!!!!
The DILUTION is huge and I am sure that the Pattersons clients will dump the shares after taking a small profit.
In summary this has been a very dishonest capital raising and management in the past have withheld information but this is the first time that they have mislead and deceived us. I think this is a matter for the ASX

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Yeap.... and ppl still can take profits down to 0.012 cents..... Xmas.....

What a bad deal.... and with Patersons .... you kidding...

GLTA

cheers

T10

CTL Price at posting: 1.3¢ Sentiment: Hold Disclosure: Held
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Ann: Share Purchase Plan Oversubscribed and Top Up Placement, page-6

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