Ann: Change in substantial holding, page-2

This is serious dilution for Phillip Asset Management Ltd and one wonders what they can do to claw back some of their "paper" loss.
In December 2020 they became the largest shareholder of Acrux putting in approximately $5M for 31,847,134 shares = 15.09% of Acrux.
In February 2025 they added another $200K during the capital raise at $0.035 per share bringing their total "investment" to $5.2M.
In this announcement the dilution has reduced their ownership position to 9.21% of Acrux.
As of close of business yesterday their shares at $0.019 are worth $713,667 - a staggering loss of -86% or -$4.4M