Ann: Non-renounceable Entitlement Offer to raise up to $1.78m, page-6

To be honest, I'm not even sure if Gerard wants it anymore - he's not even putting in half of his holding's eligibility. Not ideal terms either, a near 5% discount to 30D VWAP, along with the advisors that will undoubtedly collect a princely sum, plus options, for their troubles; perhaps Gerard has diversified into corporate advisory and takes care of the raisings himself.

These days, I fail to see the differentiator to all the others in the market now, so the first mover advantage has long gone. Beacon seems to sell ... nothing? Harvey Norman never talks about them anymore. The only announcements we get these days are changes in securities or CR alerts.

Latest presentation even, CY22 $3,2B market and ZMM's share was $0,45k? Not sure how this constitutes being a "dominant player" in the market.
- With a 26M population, this puts it at 2.600 people - this is just over 1.000 homes (at approximately 2,5 people per household).
- Worse still, Auslan, a sign language in the deaf community, is the primary language for 5.500 Australians. Under this line of thinking, ZMM would consider Auslan a dominant language in Australia.

DYOR