Ann: Notice of General Meeting/Proxy Form, page-12

Perhaps I got confused by the sequence of events and timing of recent announcements, I can't really reconcile the number of shares mentioned in Resolution 3 of the AGM Notice, the last Top 20 list, the announcement on 8th December re the placement of $2.54mil and the number of shares referred as "placement" in the Prospectus dated 10th December. Perhaps some of you can help me here....

1) Resolution 3 - only 77,381,718 shares issued on 11th December and raised $541,672?
2) The Placement announced on 8th December stated "a placement to raise $2.54mil at 0.7 cents per share"
3) The Top 20 holders update - I have just realised that the list announced in last December actually had 21 holders and the total number of shares for the listed 21 holders was 293,476,013 shares, not 329,190,298 shares as given. The discrepancy was 35,714,285 shares (or $250,000 if we applied the 0.7 cents issue price to it). The September "Top 20" list also had 21 holders. I haven't checked the previous ones but I hope there was a good reason for it. I also hope if the reported total was correct, that the 35.7 mil shares were not held by a single holder which otherwise would have been a material omission IMO.

In my previous calculations and assumptions, I had used the stipulated "Top 20" percentage of 43.205% to derive the total existing number of issued shares at the time ie. 761,928,274, which matched the number of "total shares including placement" referred in the Prospectus dated 10 Dec 2015. Based on that, I would have thought that they issued all the placement shares announced on 8th Dec and received $2.54 mil cash? Only $0.54 mil was mentioned in Resolution 3? Is the $2.0 mil difference, a past or a future Placement as referred in Resolution 1? Or they are 2 separate placements as alluded to by the dilution table in Resolution 1? If it was the latter, that's a lot of money being raised without the shareholders knowing what's happening???!!