Whilst I think the price is on the high side I think we should...

Whilst I think the price is on the high side I think we should all remember that UBS and Macquarie are the underwriters and whilst some of you might think so, they ain't that stupid if they thought this was a bad deal. Yes they are being paid handsomely at 3.5% but 71% of the funds have now been raised and again I would say the institutional investors ain't dumb either. So I do have some confidence that this deal will work out for shareholders although we probably won't know for 12 months.

I do question the cost/fees of this transaction, $27M seems far too high to me to raise $130M (although this includes a 4.5% fee for the loan facility) and so I wonder if anyone raised this at the AGM?

I think it very poor that the Board has not released a transcript or recording of the AGM Q & A. Doubly poor that we haven't also been told if the Board are taking up their full entitlements.

Clearly with the SP at 40.5c the retail component isn't going to raise anything near the $43M required and although underwritten that's going to be a terrible overhang on the market. If the underwriters are allowed to do a book build then equally bad for the SP imo. I hope the Board have something up their sleeve before next Monday (to give us time to then make payment)