Excellent summary above.the first line is worrying but second...

Excellent summary above.
the first line is worrying but second line clarifies more.
the asx is not a friend, more of a monopolistic author-ity.

asx query dated 26 Feb
trading halt for capital raise 27 Feb

The directors were managing to avoid a capital raise until the ASX query.
this was in the interest of shareholders, avoiding dilution etc.
they may have been able to avoid dilution until some sort of deal was done.
there is a good outline of the various potential deals in the above post.

but seemingly because of the monopolistic ruling class ASX query, the directors decided to be cautious and discharge any legal duty, their fiduciary duty, by raising capital.
Caution is required because all Government is based in threats, violence, and coercion.
so, it was the intervention of the government-backed regulator that initiated the dilution.