Really isn't this all irrelevant. The cheapest form of equity growth could well be a share buyback but they don't have the cash. Logically they don't want to raise equity capital at these prices and they know how unhappy the shareholders would be. They can get debt so whatever the price its a protection of the share price because this end of town has a fear for more CR's.
Instead of fighting amongst us we would be better served to debate AJX and getting to the real facts.
This group have had a rough ride to date lets rather focus on what the company has to achieve than focusing on qualifications and definitions.
FY18 New business and pipeline (not factored in FY17), page-17
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