If they were looking at a capital raising, then I am sure our 23% shareholder will be guiding this with intent and politely declining.. Permanent dilution for a reduction of (environmental) debt doesn't make sense; especially when the cost of capital for enviro funding would be much lower than the return they get from having greater capital to deploy into operational activities.
Look at our neighbour AIS for example; went to the market for a capital raise and their 30% shareholder (Soul Patts) had a stern chat and provided them with debt instead of diluting everyones holding. I imagine some heads would've rolled; probably the same to conduct another un-necessary non earnings accretive raise here to retire some environmental bond debt.
Anyhow happy to be corrected.
AMI Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
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