I find the announcement a bit disturbing and not complete. SAU...

I find the announcement a bit disturbing and not complete.

SAU currently has 128 million shares, and wants to issue another 85 million shares and 42million options. Because these will be purchased shares it doesn't diminish the value for existing shareholders much immediately, but does reduce potential share of profits. To be fair these profits may not come if there is no cash injection.

The announcement only names and accounts for less than half of the capital being raised. I guess the rest comes from "sophisticated shareholders" which in the past has also included the Board of Director membership seeking to maintain their position. The test will be when we see the detail and if BOD are included in the "sophisticated shareholders" then it smells. BOD should not be able to profit from discounted chare offers that they propose and exclude retail shareholders from accessing. In any other area that would be termed a conflict of interest.

We will have to wait and see