Ann: Proposed Equity Raising, page-22

I assume speculating as people are forced to by the lack of information provided by the directors to the shareholders.

The relevant quotes from both announcements are:

and

I'm not an admirer of this 'need to know basis' announcement style.
Clearly in TMT's view the shareholders don't need to know.
There is nothing to stop TMT giving more information for clarity.
Even if there are NDAs or confidentiality issues, they could simply state those factors in the release.
Instead we have speculation on an internet forum.
Bad PR and an amateurish look.
There was a trading halt for this! Are we coming or going here?