Ann: Trading Halt, page-58

A Capital Raising does not necessarily mean a concordant drop in share price. If fully subscribed we'll still have fewer than 900 million SOI.

Often a Cap Raise results in an elevated share price because it will be accompanied by plans which have the potential to materially increase the value of the entire enterprise.

I'm speculating, but if the cap raise is used to fund the construction and commissioning of a power plant - an asset which in turn will produce income, then I suspect the CR will have a positive impact on SP. I have been wondering what their plan was for the power plant since it was first mentioned on 7 April.

You do see companies SP fall on cap raises, especially when the raise seems to continue funding salaries for the senior execs that never seem to deliver on the promises since the previous cap raise. I don't think we should put EXR into that category.

Time will tell, but no one should think a Cap Raise is always a bad thing - the opposite is often true.