Sadly, the RI outcome is not surprising. I didn't feel the slightest inclination to take it up myself. They have been so inconsistent in their messaging to shareholders. They said Track CR was enough to carry them forward, then it was the refinancing, then another CR plus a RI. Yet the company is very profitable generating FCF?&%@? The low investor confidence is due to inconsistent capital strategy - equally matched by their PE ratio.
Maybe qqqq's was right after all? The next 1/4'ly better show some organic growth, FCF, and reduced debt.
Ann: Rights Issue Closure and Shortfall Notification-CM8.AX, page-6
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