This is not a placement or a cap raising. They are just convertible notes being converted into ordinary shares. The capital got raised when the notes were issued and I believe this was to pay for the Rincon development. Converting the notes into shares does not mean the shares will be dumped. It could be that the RLL demerger is happening shortly and the receivers of the converted notes (shares) will want to hold on to them to benefit from the demerger.
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