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Ann: Trading Halt-AVQ.AX, page-193

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shane.hardy

3,012 Posts.

30/07/16

09:11

Post #: 18405744
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Originally posted by djm3001 ↑

Hi Shane

I am interested in your thoughts or WB's if he is still on.

I remember at the shareholders information meeting either you or SJB or someone raised the question to RM about shareholders being a bit tired of these fundraising and why there wasn't a general rights issue or major fundraising done with existing shareholders. I think the question was quite well supported by other shareholders there.

I think Ryan answered that in this case ( April 2016) there simply wasn't time but that he took on board the comments and would look at it seriously in the future.

I think its fair to say that the fundraising in April was done probably the only way it could be done considering the circumstances. However I am interested in your thoughts on the following:

1. I think everyone knew and RM may have even informed one of those meetings that we would be out of funds in the 3 rd quarter so why didn't they put together a rights issue to raise a proper amount from the shareholders.. They had plenty of time this time. It hasn't snuck up on them.

2. Do you thinks there would have been the appetite from current shareholders for say a rights issue to raise $10 million at 25 cents? Maybe with a free option as a hook

3. Is raising $3 million enough? If things keep dragging out it will be pretty grim doing another CR. $3 million won't last that long. should they just have gone and gotten $10 million or $15 million and been certain of having the cash to last and also to be able to hit San Jorge hard without economising on everything and being in a much more solid financial position.

Cheers
DJM

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HI DJM
Very good points you raise , and with out knowing all the details ,I would have to say I am a little Dissappointed Loyal Share holders ,were not given the first call.
I think what companies try and do is to recruit more share holders in , Via Brokerage firms so it adds new Blood , However Your correct I think we should have had first call . will be interesting to see how if any options stack up compared to the Loyalty ones , bearing in mind us share holders never had to first stump up funds...cheers

AVQ Price at posting: 32.0¢ Sentiment: Buy Disclosure: Held
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