Booklet, page-2

It is "partially underwritten".

This is not about raising capital to enhance the profitability of BFC. This is purely an effort to dilute shareholders in order to win the vote at the upcoming AGM. The new shares will be issued only a few days before the adjourned AGM.

ASIC doesn't seem to care about the average shareholder. Too busy trying to exist to be able to do anything.

There is a strong chance BFC shares will be below issue price once the AGM is held. That won't worry some.