the issue here is whether any of the Directors are acting as...

the issue here is whether any of the Directors are acting as sub-underwriters of the placement.
also will the SPP be underwrtitten? (i think that can be done).
There was no mention of any underwriting in the announcement - but they can do that at any time.
Clearly, if placement and SPP goes ahead, the RJ and Baldwins interests will be significantly diluted.

I think its a lousy price for the small s/h. Not much of an incentive.
(UNLESS OF COURSE THERE IS AN ANNOUNCEMENT OF A J/V OR SOMETHING, WHICH WOULD GIVE THE SP A GOOD KICK).

cheers