Ann: $70m Fully Underwritten Placement and up to $5m SPP, page-156

There was very heavy demand for the placement so clearly the larger institutional investors like what they see. Important to remember that this is typically the only way large funds can invest in the smaller end of town, now that they'll have their initial positions I would expect to see continued accumulation from these institutional investors. The proceeds are being used directly to fund growth, I don't know about everyone else, but I would always rather a company I am invested in raise to take advantage of an opportunity than sit around doing nothing. Quite clear the larger investors agree, hence their enormous support for a raise that is being priced at a premium to what the share price was at only about a week ago. Excited to see what the future holds for DRO though, with these funds they are now in a position to maintain the tremendous growth rate, continue beating expectations and delivering strong returns to investors.

It's exciting stuff, WA1 had similarly high support for a raise at $10 not long ago at all, and whilst the price briefly dropped to $10 it very quickly has rallied more than 50% above that raise price. Often see this in companies where the raise is clearly being used to push the company further ahead, whilst the price does tend to dip temporarily to the cap raise price, it very quickly rallies higher as investors anticipate the fact that the returns will be > the dilution (the necessary cost for pursuing high growth)