Ann: ALC acquires ExtraMed, completes placement and announces SPP, page-46

Like you, I prefer it when all shareholders shareproportionately according to their investment. That is best achieved by a pro rata rights issue, and I don’t understand the current reluctance to raise money from shareholders in this way.

However, I must point out that a shareholder currently with$3,000 worth, applying for and hoping to get the max $30,000 will be disappointed. It’s a small offering and, if we are to believe the stated allocation criteria, it just won’t happen.

Alnby reckons that the average allocation will be $1,000 worth.