Indeed, but if the Co were serious about getting existing...

Indeed, but if the Co were serious about getting existing holders to subscribe at 0.1c then they'd ensure at least all of the 54m @ 0.2c currently sitting on the Ask got soaked up here asap. But instead they sit silently, not even disclosing the revenue impact of the trumpeted acquisition. Yesterday's paltry attempt at 0.2c buying was too little too late, and made no lasting impact on VWAP.

I wouldn't be surprised to see all of the allocation to existing holders go unsubscribed but for whoever the 'connected' soph is who took out the Placement. That soph could then get their 133,333,333 1-for-6's plus subscribe for the full Top-Up Facility as well i.e. all of the Entitlements not taken up by anyone else. They could effectively take control of this shell for dirt cheap by doing this.