This placing is letting the institutions in on the cheap at the expense of existing shareholders.
Why not a rights issue to allow shareholders to buy at the same price as institutions to protect their position? I would have participated in that.
I will certainly vote no to the second tranche. They should grow organically rather than letting new investors in at the expense of esixsting holders through dilution as a result of the discounted placing.
Very dissapointed, management should be looking out for the shareholders that have supported the company, not letting in new guys on the cheap.
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