7D.1c ( ii ) Please explain why the entity has chosen to do a placement rather than a +pro rata issue or an offer under a +security purchase plan in which existing ordinary +security holders would have been eligible to participate
Answer
Market conditions have provided an opportunity to undertake a capital raise without the time delay and cost of a pro rata offer of SPP.
ASIC need to tighten the rules here massively. Total BS answer but it ticks the box.
Ann: Proposed issue of securities - ARV, page-4
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