Ann: Placement and Entitlement Offer, page-2

I've just bid into this offer, will await allocation. The reason for doing so is, I believe these additional funds will be used to get TGF on more radars and close the gap from price to NAV. The placement/rights issue looks to have been strategically offered through multiple quality brokers to get more eyes on it, and the cum-dividend kicker should see good uptake (with the forward dated record date ensuring that the issues shares are not sold down immediately). Definitely understand existing holders feeling like the raise price is too low as the funds assets are worth substantially more, however my thoughts are it appears management feel its necessary to get the fund marketed to more holders and people to narrow that gap.
I'm happy to hold under NAV with a higher reward to risk ratio on this one over the coming 6-12mths. 6% dividend helps that decision too.