I am reminded of this extract from one of the reports from the...

I am reminded of this extract from one of the reports from the AGM.

“He (GR) said they have no need for finance at present and the 10% equity resolution would only be invoked if they suddenly got a large military and large bedding contract, etc, both together, so they feel no pressing need for US listing. The obvious ready access to finance is important however with customers, particularly the military. The DoD would not want to commit to supply from a company that suddenly might have supply problems because of finance.”

Admittedly this is only an interpretation of what was said, but if true then it is possible that announcement of a pending large deal is dependent upon the Company demonstrating its ability to fund its supply.

As an aside. There will be 340.8 million shares on issue after the placement, 34.3 million of which will have been issued at a 5.2% discount to VWAP. This would represent value dilution of only 0.5% for current holdings. Hardly something to panic about. Rather, management credibility would be of more concern.