For me, the below quote is the worst part of the announcement....

For me, the below quote is the worst part of the announcement.  It was either this deal, or they went hat in hand to existing shareholders, or they go to administration.  This is the financing of last resort.  The lenders will get their fill, don't worry.  It's existing shareholders who are going to see the last of their wealth evaporate.

If this condition is not satisfied, Eden may either terminate the Agreement or waive the condition (at its discretion).  If shareholder approval is not obtained and Eden waives the above condition, all issues of Shares and Options under the Agreement will then be made in reliance on the directors 15% issuing capacity under Listing Rule. 7.1