This CR was always going to be a Placement.
There would be zero confidence by EDE in a Rights Issue.
I very much doubt there will be an accompanying SPP or Retail Rights Issue - although maybe at 2.6c it might get some retail backing?
I am glad if it is for at least A$7m, because that will give EDE some breathing space.
Also, I like the fact that it will dilute the board's holding, although no where near enough for me.
I am guessing the Placement was done via an Aust broker??
The other benefit of this CR, is that EDE may postpone using the "Lender of Last Resort " facility.
Ann: Trading Halt, page-98
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