It's the most languid capital raising I've ever seen. It's not underwritten, the share price is the same as the raising price meaning there's no material incentive to participate, and they can't be bothered putting together an investor presentation to tell holders why they should participate. I'm not sure how to read it. Maybe major holders have committed to mop up any shortfall in the raise from others who don't take up their entitlement so the company feels no obligation to promote it.
Reaper
Ann: Letter from the Chair, page-12
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