Hi Max, re "All they can play with currently is ~87 million shares or 25% of the company!"
Well that's a common misconception, I think you will find that under Listing rule 7.2 that there are a number of exceptions to the requirements of Rule 7.1 and 7.1a, which are the 15% and 10% rule.
The first exception under rule 7.2 is a pro rata rights issue.
Charting 2.0, page-2015
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