Ann: Acquisition and Capital Raising Presentation, page-42

Correct. This is standard practice for a capital raising. The "market" always tries to push a share price down to its raising price to try and spook the natives. It's just a bit of dribble before things really heat up. No volume whatsoever. All current holders have their 35c allotment locked in if they want it. I'm applying for double my allotment so I'm happy if others let go. I expect the share price to spike in the short term and move higher quickly in the medium term as the significance of this deal dawns on a few people.