announcement out, page-5

It's not about the cap raising, but the price at which they did it. 45c would have been much fairer, and actually achieveable IFF as they say, the offer was heavily oversubcribed. Holders could have had an 1/8th less of the dilution, with little short term value reduction.

And the fact the discount was so large, has absolutely stuffed market sentiment and put a lot of people off side, is not good for the future. Especially considering they are effectively saying the company is only worth this much, which is at the lowest of the valuations put out by brokers. It's just not good market language. Akin to teams dropping players to play for draft picks, without the benefits.