no this is the genius strategy of board and management. I’m attending the AGM and will be getting up to propose a motion of congratulation to applaud the Board for
a) their foresight for not raising the required capital in December, January, February, March, April, May, June, or July —- but instead choosing the low point of the share price to conduct a dilutive share placement that diluted existing shareholders
b) their cleverness in making a dilutive placement to institutions some of whom are after a quick buck and will then on-sell their shareholding to a potential predator, thus making it easier for a corporate raider to make a lowball bid for the company, again causing such delight for existing shareholders who bought at far higher prices
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(20min delay)