It was a deeply discounted rights issue. It reset the price down but gave all existing shareholders the opportunity to reset their position. The benefit to the company was 1) to raise $ (duh!) ; 2)to not substantially increase the number of shareholders in the face of more shares on issue; to encourage some stickiness in the register with more-invested shareholders less inclined to fill the market in.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-8
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