Ann: Trading Update and Capital Raising Presentation, page-5

Unfortunately, yes. a 48% discount to market. I had to pinch myself to believe that. Suspect the instos were approached about supporting the company and they just lowballed management, but with no other option they were forced to raise at that massive discount. I think a management cleanout needs to happen. They overpaid for their recent acquistion and just now are realising trading conditions are tough, talk about being asleep at the wheel.

Naturally, not advice, DYOR