Very confusing when rights issues are usually done the other way around. I guess it's being done as is to favour GSO the underwriter looking to take control of the company.
http://www.investors.asn.au/education/shares/mechanics-of-share-investing/corporate-actions/
Generally, rights issues are made at a price that is less than the company’s current share price so that the rights issue is attractive to shareholders.
A$360 million / 3 billion shares = A$0.12 per share, page-3
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