August 19 insto presentations, page-85

Dear zog, your last post sounded like a load of verbal diarrhoea to me. Hawkes Point are not being offered shares back at 23 cents that they have previously sold at higher prices and directors (Peter Mansell) presumably needed to get shareholder approval to participate.
Perhaps you can show us all how institutions have had a ‘free kick’ and an extra ‘bite of the cherry’ here that was not actually required by ASX rules?
When raising large amounts of money everyone involved looks for certainty is achieving that objective and a mix of existing shareholders and new institutions is required.
The Board would have considered that the smaller shareholders had the best part of six months to buy shares under 23 cents, so larger cheque books are required to raise ~$55 million.
In typical David Quinlivan manner, that whole exercise was executed in a very fair and professional manner imho.