According to the EQUITY RAISING PRESENTATION, net cash after the raising is only $318 million, implying cost of the raising is amounted to $209 million!!! That is bloody EXPENSIVE!
So, cash as at 30 June 2020 is $102 million, plus $425 million from this raising should give us a cash balance of $527 million in the bank. But, the equity raising presentation says that:
- Strengthened balance sheet with pro-forma3 net cash of A$318m (as at 30 June 2020) * Pro forma measures have been calculated as at 30 June 2020, after costs of the equity raising
Ann: Fully Underwritten Equity Raising - Approximately A$425M, page-8
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