Ann: Proposed issue of securities - BML, page-4

Why couldn't there have been an offer to existing holders?

I remember years ago when NST was an explorer and wanted to raise funds to purchase Paulsens Gold mine. They offered holders the position whereby they could buy 1 for every 10 they held at a similar discount to what this proposal has gone through, with attached options that expired in; 6 months, 12 months and 24 months. It was a very successful raise and allowed the 'punters' the opportunity to make a dollar.

Instead, parasites - Shaw and Partners Limited acted as Lead Manager and Bookrunner to the Placement with Euroz
Hartleys Limited acting as Co-Manager to the Placement. - are gifted an early xmas slush fund of $275,000.