capital raising procedure

In another thread, someone (sorry can't remember who)brought up the subject of eventual capital raising via SPP.

I know this is probably a fair way down the road and not currently the highest priority for the co and SH's, but I think it is important to consider the issue of how this ought to be done. On a fully diluted basis, EXM currently has over 1.9b shares on issue and no-one wants to see that diluted any more than necessary. In particular I am sure we don't want to see a big chunk of equity being gobbled up by insto's and "sophisticated investors" who walk right up to the back door in a SPP and get given preferential treatment over existing shareholders.

The fairest solution is to do a raising via an underwritten rights issue (preferably renouncable) as RIO did. AIO's disgraceful cap raising was just a pure gift to the big end of town and a jab with the Sh**y end of the stick to retail shareholders.

IMO it can't be too early to get a message to the Board that that is the clear wish of the shareholders when the time comes.

Any thoughts?