Just a reminder that $4.8M of the raise is for Shareholders,...

Just a reminder that $4.8M of the raise is for Shareholders,
Meaning they can get half as many shares in the placement as what they hold / held at the record date.

Just $1.3M is for institutional investors.

Quote:
"$6.1m equity raise comprising $1.3m institutional placement &
$4.8m 1:2 non-renounceable entitlement offer"

So really the deal mostly offers Shareholders the opportunity to purchase some more shares at a good price.
Maybe they should have called it a "Loyalty Share Offer"

Don't know why shareholders would sell down their own stock the way way they did,
Maybe they thought it was more for Institutional Investors,
and didn't understand that very few shares are actually going to instos,
And the vast majority are for shareholders only.

Anyhow shareholders not acting in their own best interest,
Is always slightly amusing.
It is actually amazing how some persons comments on Forums and the like,
Can manipulate the SP of a company.

I am sure there are some on here and other forums,
Who are paid for their comments.