Ann: Client Outlook Acquisition and Capital Raise Presentation, page-10

On the surface, this looks a fantastic acquisition. The presentation pretty much covers everything one needs to know.

The 1 for 4 pro-rata retail entitlement offer is really fair to existing holders, as opposed to a blanket raise.

In addition, retail inveators have the opportunity to apply for a further maximum 50% of their pro-rata entitlement under a top up facility.

What has also impressed me is the fact that everything was kept tightly under wraps. Many other companies would have seen their share price being hammered down by entities wanting a lower price, as word gets leaked out.