News: MLX Metals X Ltd Says Co To Raise About A$50 Million through Institutional Placement, page-7

Disappointed in MLX. Rule 1 broken - look after existing shareholders by bringing them along for the ride at the same price as any placement is done (i.e. SPP or rights issue in parallel to placement). That way existing shareholders can make their own decision as to whether they want to maintain their holding % or allow it to be diluted. I would have supported but now need to reassess ownership and put my money into companies who do have a track record of looking after their existing holders.
Rule 2 also broken. Raise when stock price is high (get as much as possible for as little dilution as can be managed). Why wasn't this done when the price was much higher?? In Jan this was $1.18...
Smacks of poor planning and hasty reaction..
Others better..