I am sorry to say it but this capital raising appears little more than an addition to the directors pension plan. Whilst they may be taking up their full entitlement, less than they withdraw in emoluments, it appears that institutions are not interested. The directors are in their sixties, there is no succession plan, no new hires. I am resigned to the fact that my investment is gone. I have no doubt that the capital raising will fail. Several decades is a long time to drill holes and find nothing. Disappointed.
Ann: Security Purchase Plan, page-11
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