Ann: AGM Presentation, page-55

"While manure can facilitate growth, in the wrong hands, it just ends up in a pile that stinks up the place unbearably. Alexium's management falls into that category unfortunately."

that's an unneccessary post.
If you hold those views of AJX mgt and board, WHY on earth are you still a "Holder"?
If someone was so anti this company, it would not matter what your loss was to exit - you would just get the heck out of this stock? Yes?

That's if you genuinely "Hold"?

From what has been reported on HC, and from what was said in the AGM, it is a good bet that this T/H is to formalise the commitments (and maybe some Underwriting?) from those parties who have earlier stated their intention to participate in the Rights Issue.

The company has indicated that it reached the discounted price of 6c, because that was the level where shareholders had indicated that they would inject further funds into AJX, for the purpose of refinancing the debt. It was made clear that investors / Instos /brokers regarded the debt as a millstone, and would not invest in AJX until that debt was removed.

Nobody wanted dilution.

But that debt is "userous". It is typical US style rip-off debt, where the only winner is the debt funder.

IF AJX is to become profitable, then we are better-off having the benefits of that profitability and share price appreciation in OUR hands, rather than the "userous" debt funder.

The obvious point here is that IF you think that AJX will NOT reach EBITDA positive and profitability, then you simply should not be here.
Either you think AJX has good products, competent mgt, and will eventually become profitable, or you don't.

if you don't, then better to take your loss, take you money, and invest in another stock in which you have more confidence.