Ann: Trading update and fully underwritten A$30m equity raising, page-73

Appen has become a class leader in its ability to disappoint and fall 30% in a day. No sane person believes the CEO spin anymore. I reckon they have until the results in February to prove this has turned a corner. If not it will be an asset fire sale. Less say more do, who said that? However if they do, and February proves it, APX has shown its ability to double in a month. At this time I will not be participating in the fund raising, once bitten twice shy. However if after 4th December the price is still holding at 70 cents plus I might change my mind. Saying that I would not be at all surprised to see a 40c price by December 7th if fund managers dump the stock to clear up their calendar year end book. I will not make my mind up until then.