capital raising, page-24

A question for the well-informed: is it not the case that the Avexa board has the capacity to issue an additional 15% of capital at any time (ie, once a year)?

In other words could not Avexa issue 15% at 'a discount' to the lies of Tibotec, or any other institutional buy-in?

If that were so, would it not seem likely that the proposed buy-in (if that's what it is) would be larger than 15% ?

Otherwise, if this were a general working capital raising, why would Avexa not go down their usual path of a renouncable rights issue, as they have done in the past?

I'm working on the theory that this is some sort of big deal. (Makes for easier sleep over the weekend). Just where the benefit falls is yet to be seen.

regards,
P.