re: Ann: Notice of Annual General Meeting/Pro... placements are only done at a premium if there is sufficient institutional demand. if there is insufficient demand, then you can hardy blame the company for mismanagement of the capital raising. if the placement was oversubscribed, then it is highly likely they would have mentioned that fact in the announcement.
considering the placement was for $10M and the SPP is for $20M, how successful do you think an SPP would be if it were done at a premium?
i've never seen an SPP done at a premium in my life, and offers that are not in the money at the closing date are usually undersubscribed.
the fact is there is always going to be people on hotcopper who will complain about capital raisings, no matter what form they take.
Ann: Notice of Annual General Meeting/Proxy Form , page-7
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