I doubt there will be many punters following their money - that means APAC will swoop on the cheaply issued paper and end up with an increased ownership and clear control (i.e. control at a discount and not needing to make an offer to all shareholders). I would prefer a placement at market or a premium to some institutions - that's results in less dilution, keeps the register open and hopefully the board honest.
Ann: Quarterly Activities and Cashflow Report December 2021, page-5
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