You and me BOTH
@maxi1981. I was saying to @L2B1, about the 24 Apr, when the shares crashed thru the 2c, (when it was 2.2c) to 1.8c that this had a stink of a CR. 26 days later we see the outcome of the schemes being put into place by management.
Question now is: " Will the board and management take up their full entitlement, A) without selling some of their heads to finance the purchase; or B) Will they sell part or all their rights i) not take up the offer, ii) sell some of their rights to finance the residual holding of rights; or C) Is the issue now being made to facilitate a cornerstone investor (after current SHs who wish to take any additional shares stemming from those SHs' rights being allowed to lapse) to pick-up all the lapsed rights not exercised.
It's perplexing, recent utterances from the management has been the assurance that they have sufficient funds to see them through to the end of the Dec Qtr 2021, in particular with the Acuity standby. This point being made in such away as to give the belief that funds would be raised but that event would not be until the second half of the calendar year. So, it remains, what is the rationale behind the CR, has something changed that warrants this move. 1) Has the capex spend in the near term months blown-out? 2) Is the move conditional on gaining DFC approval; or, Off-take agreement(s)?
Yes, the funds the prospectus states will be used in accordance with the table below sets out (in the prospectus). However, it has been said that this CR would be later rather than early which is contradicted by current events.
Wouldn't such announcement been better managed had the Board and Management moved to notify the ASX that the shares in LPD temporally suspended from trade owing to news related to a Capital Raise being considered and activated. Its my view that the way it transpired the market was not in possession of the facts pertaining to a fully informed market. Other companies ask for a suspension of trade in their respective shares in these circumstances.
This was badly managed, it is my belief.
(20min delay)