Ann: Capital Raising, page-14

Take a scan over the capital registry and you will see that those selling when it was .054 last week were the Perth brokers that paid .03 and not .032 as disclosed in previous cap raising. They were given a discount of 6% off the raise price because they charged that as a fee for their service.

then the retail investors eg you and me buy these shares on market at full price

this cycle is repeating again now

why have the last two cap raises been closed to retail? Because retail will buy the shares off the Perth brokers at a premium on market.

it stinks I won’t be surprised if ASIC starts crawling over them for breaches of minority shareholder rights