Ann: Share Purchase Plan to Raise $25 million, page-319

@Red Baron .. I'm expecting lots of news over the next couple of weeks as well, which should be very positive for the SP. My main point was that a risk was taken that the markets would have held up over the period of the SPP, when it was not necessary to take that risk.

I'm fairly confident that if the share price had remained below 60c for whatever reason during the SPP, the result would be poor, especially given the size of the SPP.

When raising $25m because you need it for normal operation, a company shouldn't be taking risks on what the market does. That's why companies go into a trading halt and raise over the next 2 days via sophs and instos, then offer a small SPP. They have raised most of the needed cash before the market can react.

My issue is about the risk taken, whether or not they get the full $25m is irrelevant. It was luck that the share price held up without a positive announcement. Why leave anything up to luck when they don't have to??

BTW I hope we did raise the full amount, but I'm not as confident as some, just because it was so large, and large holders were limited to $30k!!