Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-81

"Now as mentioned we're being coerced into putting up more money and apparently feel grateful we can participate in the dilution, fantastic!NOT!!"

I have an alternative theory about the opportunity for shareholders to participate at a lower price than SIMEC and why some might be grateful.

Could it be that certain person/s, possibly members of the Board, would like to maintain their percentage of the company as much as possible and a capital raising will let them do that? These could be the same person/s that from memory, did not exercise their options that expired at 30 cents, resulting in a need for the Bergen fund raising and those same person/s then subscribed for shares at 20 cents with new options? From memory, 20 cents was a fair discount from the price before that capital raising was announced.

I will be interested to see how much of a discount there will be for this capital raising and any restrictions on the number of shares that can be issued. For example, will it be like CAP's current capital raising where any shareholder can buy up to $15,000 of additional shares, regardless of whether you hold 10,000 or 10,000,000 shares? Or will it be one where they seek to raise $X,000,000 by issuing a number of shares, allotted based on current shares held but you can apply to buy more than your allotment is others don't buy theirs? If the later, is it designed to assist those with an already significant shareholding to acquire more shares at a discounted price? Perhaps they are the ones that will be feeling grateful?

I wonder how long before we see all the detail on the whole deal including conditions for the conditional funding and details of the capital raising. I think that will assist in reducing some speculation as the uncertainty of not knowing the fine print is what I think is not helping the current share price.