this seems to be driven by asx guidelines. the company is changing direction & status and must therefore adhere to the rules & regulations of the asx. the $1m is not a cap raising, it is purely housekeeping to comply with the asx once again. if they were looking to raise some coin, it would be in the many many multiples of that, and will not be done until after aim listing - only 20 days away....
i am wondering who will get these $1m worth of shares though.
it has been encouraging to see a little bit of volume this week. i am right in assuming it is uk investors? as the only action happens on the open, and then we drift down on next to no volume for the rest of the day.
RMP Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held
