Ann: Appendix 4D & 2023 Half-Year Financial Report, page-46

I don't get this comment. Could you assist me in explaining how this entitlement offer is targeted to retail investors?

Shares on issue according to ASX site is 952,014,210.
From simplywallst, the little guys hold around 367,440,369 shares.
At a 3 for 5 entitlement offer. Would create only 220,464,221 at $1.20 which will only generate around 265 million.

I'm just head scratching but:
952014210*(3/5)*1.2 = 685,450,231.2
Which means all share holders (instos and retail) can get the entitlement.