As I'm sure most people here would know, section 324 of the Corporations Act states that an individual may not play a significant role in the audit of a listed entity for more than five out of seven successive financial years.
Rotating audit firms every so often is best practice from a corporate governance perspective. Just like planning for negative contingencies and ensuring that the company has enough cash on hand to allow continuation of the business in the event of negative trial results.
None of this is rocket surgery.
PER was trading at under 8c less than 6 weeks ago. If this raise was announced 6 weeks ago at the same price, everyone would be hailing it as an amazing deal. IMHO the raise is both prudent and well timed.
If the December readout is positive this will be water under the bridge. If it is negative, everyone will be very glad that we have the funds to pivot to a different indication without needing an emergency raise at 2c.
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