Ann: DEL Announces $4.5m Placement and Share Purchase Plan, page-12

I agree with your sentiment on Morgans.

Morgans have been issuing buy and sell recommendations over the past year effectively making clients daytrade the company.

They wrote a public sell note recommending clients to sell 3 weeks ago which placed further artificial pressure on the share price.

Now Morgans are getting their cheap stock back at 17c. These brokers offer nothing but volatility and should be flicked and cap raises done in house.

A great example was BGT recently which saved fees, issued privately and to their directors. The raise was backed up by news flow and the share price has since doubled.