All we are saying is to give all shareholders an opportunity to...

All we are saying is to give all shareholders an opportunity to buy shares at 8c, not just the MD, Chairman and their mates. If the market is so tough and the MD and Chairman are doing everyone a favour by participating in the placement, then why are so many shareholders (including myself) complaining. The reason is 8c is a gift, and it is unfair, unprofessional and unethical for the MD and Chairman to have the opportunity to buy shares at this price and for all shareholders to not have an opportunity to do the same, preferably on a pro-rata basis.

Rights issues have been around for a while - they are fair! SPPs are helpful. Placements to mates have also been around for a while - they are not fair.

Just my opinion
Monty