ywtoh,I quite see your point, however (and I stand to be...

ywtoh,

I quite see your point, however (and I stand to be corrected here), is it not an ASX stipulation (disqualifying o/seas holders ex NZ) when capital is raised via a SPP?

I cannot lay a hand on documents for a recent SPP that I've participated in, but I do suspect this restriction is common to all ASX listed company SPP's?

But essentially I was moved to comment on your concern; "...if the company wants more foreign shareholders in the future, it will do well to be more equitable in the CR process."

I doubt this. The general summation has been that FLC wanted to lock in a sizable capital injection quickly and efficiently, (given our near term cap-ex needs), and arguably your (understandably preferred) Rights Issue wouldn't have done it for them in the circumstances.

Regarding any future CR's, this recent article from the AFR would suggest your odds of any Rights Issue are diminishing -

https://www.copyright link/markets/equity-markets/could-asic-s-new-rules-herald-the-end-of-rights-issues-20190906-p52ou8
.

Always enjoy and benefit from your contributions, best wishes L