I recall Peter Bowler ( Chairman ) saying at the agm, that they could have taken more money from the cap raise at that time, but they only took what they needed as they didnt think it was right to dilute the register more than necessary.
In his own words.... they thought that to do that would just be “taking the piss”
Old school indeed
Ann: Nil Desperandum Strong IP Conductors, page-66
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