Ann: Application for quotation of securities - MRC, page-2

It is really interesting to see MRC successfully issued 131.3 mil new shares as part of the placement, which is impressive when the SP was at or below the CR price for the majority of the 14-week placement period.

We only had around 8.5mil shares traded over the same 14 week period, which is strange when you could have bought your shares on market for cheaper than the CR price. If only we had more investors buying on market, it would have most likely helped with maintaining the share price at or above 7.5c and encouraged more investors to take part in the offer.

The only rational conclusion I can come up with. Did these investors prefer to pay MRC the premium at 7.5c rather than pay Mr. Caruso what amount he was willing to take? if my conclusion is correct, it says a lot about the ~70% of shareholders who took part in the offer. are they more interested in helping out the company, rather than helping out the former CEO departure?