Ann: VDM progresses capital raising , page-5

I'm running a cfd on this one, so joy all round.
Seriously too little, too late and all from straying from the old prudent saying, hope for the best, plan for the worst.
These guys hoped for the best and planned accordingly.

A quick review shows this is a circus, complete with clowns.
1) Dividend paid out just over 6 months ago.
Now they are raising cash? What a joke.
2) Holders are told no capital raising forthcoming, next we have a capital raising. Really this is poor form.
3) The timing of the cap raising is abysmal.
Why not split the raising and hit holders up at xmas too!
Talk about clueless timing.
4) The structure of the raising is not only dilute, it's desperate.
5) The CEO role was handled poorly at best.
Waiting months to discover the incumbent was to be CEO.
From what i gather he is green, never been a CEO before (correct me if I'm wrong) and i have no idea of his qualifications. MBA, geo or engineer?
Can't work out where his strengths are, thus not sure what he his bringing to the table. Anyone have any idea?
From what i can tell it's not banking or knowledge of forthcoming cap raises that's for sure.

I don't recall this being underwritten either.
Total circus show all round.