Ann: Investor presentation - market update and equity raising, page-36

I think it is quite outrageous that Frank is not supporting the capital raising. He sells out a large chunk of his holding at the top of the market, still holds a fairly large position in the company, and yet turns his back on the capital raising. Even if he believes it is a dud investment to buy at $2.20, ethically/morally I believe he should support the capital raising. Maybe he can't come up with the funds at short notice, but I am sure he could borrow from the bank if need be.