This from Matt, "Otto’s Managing Director, Matthew Allen,...

This from Matt,

"Otto’s Managing Director, Matthew Allen, commented: “The Board of Otto have taken a rapid initiative,with the support of our long-term shareholder in Molton Holdings Ltd, to shore up the company’s balances sheet in these rapidly deteriorating market conditions. This will ensure that the business is well positioned for the eventual recovery phase, however we do expect that business conditions will continue to worsen in
the short term."

So the expectation for things to worsen combined with the placement could be ugly here, I'm not invested but feel for those that are. The destruction of shareholder wealth is never nice to watch/see. Stay strong in these trying times.

All the best guys.

Cheers