I agree, there must be some good news on the way to justify the SPP at 13c, otherwise GMR run the risk of the capital raising not being fully subscribed. I didnt see anything on the announcement to say the issue is underwritten.
If I was looking to top up now I would subscribe into the cap raising, as it helps the company (and what helps the comp helps its shareholders), plus I suspect the GMR's price will be higher on market in Dec anyway.
Ann: Placement Issues and Share Purchase Plan , page-16
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