Ann: Placement at Premium - Cornerstone Investor , page-16

re: Ann: Placement at Premium - Cornerstone I... The placement was not at a premium to the price when the trading halt was called. What a surprise. I am actually surprised it was done so at 7.5c, but i guess pala is getting a bunch of free options etc etc which makes the actual value less than 7.5c perhaps 6c and the stock has been diluted again... a necessary evil i guess. BUT

I just wonder why such a significant cap raising would be done prior to a list of significant announcements expected in the short term. PEN had enough cash to last for a fair while longer and i'm sure if they held off the 30 day VWAP would have been a lot higher.

I guess that shows the pressure that a significant investor can put on a company. As someone said yesterday, the capital raising was called because the share-price was getting too high & Pala investments weren't happy.

Stupid management.