Ann: Trading Halt, page-56

CR have lots of various guises. Placements like this to sophis fall under 7.1 and 7.1A which allows for 15+10% raises without shareholder approval in a rolling 12 month period. You can also raise at any time with shareholder approval and that approval can be given retrospectively to free up the 7.1 and 7.1A caps.

You can also raise using a rights issue for example whenever you want and it can exceed the 15+10% cap limit. A 10 for 1 rights issue is an example of this.

They could have raised before the AGM no worries. The last CR was in September 2017 so the 12 rolling months had expired freeing up the full allocation under 7.1.

Of course the board could have come to the AGM and asked shareholders for permission to raise, completely circumventing the restrictions of 7.1. But they didn't, and chose to do it the day after the AGM to avoid shareholder retaliation.

Stinks to high heaven.