555m of 625m shares taken up, ok, that's a very good result for the current situation. Now we see the usual sell off due to the following strategy:
Selling heads now, even at a loss and hoping the oppies will be worth converting by end of next year. Looking at the past 3 years, that strategy backfired at IMU, RAD and CHM.
Time will tell but if more cash is needed without a deal then get ready for a 0.5c or lower cap raising. The lower the raising price the harder to get back on track.
Ann: Application for quotation of securities - CHM, page-2
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