Ann: Asra completes strongly supported A$2.7 million placement, page-59

Don't forget a low MC could be in the interest of management. Makes ASR a cheap buy out target at these levels but that doesn't really matter to management because if you read all the docs around the issue of millions of performance rights at various MC's etc. the performance hurdles go out the window in the event of a takeover and they all still get granted so happy days for BoD.

SO a takeover at current levels with say a 50% premium at 3c ps or even 100% premium at 4c ps would mean RED and ASR BoD walk away with big smiles on their faces...retail holders who bought and held for years....not so much.