I received a response from the ASX today, saying that they are satisfied that Droneshield met the conditions for conducting a capital raising under the special waiver.
- The annual report specifically states that the company is impacted by the pandemic.
- The raising was conducted in a way that "encourages" retail shareholders to participate.
The response didn't address the point I raised about the inconsistency between the quarterly report and the subsequent annual report and the raising. My personal view is that the difference is that when they prepared the quarterly report they hadn't been approached by Peloton with the idea of using the waiver as an opportunity to raise cash.
I haven't heard back from ASIC yet.
Ann: Placement and Share Purchase Plan, page-155
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