agm in 4 weeks and rights issue on agenda

The 10% placement facility means they can issue up to 15,724,203 securities. ( Currently 62,896,810)

That is a huge stake up for sale, in a very tightly held stock.

They are combining this 10 % facility of 6,289,681 with another 15% facility they had up their sleeve, for another 9,434,522. The formulas are in last years notice of the AGM. They also showed formulas for a share split.

Definately worth a look. Something big is going on here. Why would they give them away for 10 cents? They make $2M a year and their assets are 24 cents a share.

Surely they are considering an offer form somebody.