Ann: Completion of Placement and Institutional Entitlement Offer, page-5

On the flip side he does actually hold his shares unlike the other instos added if late.

Still a fair bit of confusion as to what the money will in fact cover we know F#5 came in well below costs was noted at less than $5m (before demob costs by BYE) vs $11m expectation. So what perhaps $3-3.5m will relate to F#5 costs. Clearly In light of the fall in POO and plan to ride this out they should go down to a skeleton operation. Time for Matt to pick back up the CFO role - get rid of all the others noted on page 21 of the the recent preso we don’t need a senior commercial manager or 3 geos for that matter - I suspect that would be the best part of us$1-1.5m in staff costs right there ....