If you recall - most peoples issue with the capital raise was not the fact it was raising capital.
It was the fact the company publicly stated several times they did not need capital / were fully funded through to xxx date. Then, unexpectedly announced the raise, at a point when the share price (and people’s investments) were going down.
Their “loyalty options” were getting further out of reach, and to add insult to injury, as part of the diluting raise, IHL decided to attach free options to those who participated in it.Shareholders felt deceived & lost faith in management. They became seen as greedy & opportunistic - despite however “strategic” it might have been - There’s no denying it sucked in terms of investor relations & it did damage to the confidence of many holders.
Sort of akin to Phillip Lowe telling the Australian public interest rates would remain low until XXX year… then, jacking up the rates x10 times in 12 months.Sure, turns out they probably needed to raise interest rates. But, doesn’t change the fact that the decision to publicly say one thing, then do another, does damage to one’s reputation…
Anywho, we’re covering old ground here. Looking ahead, let’s hope we get announcement on psychiatrist getti ng TGA approval so they can commence treating @ clarion, and let’s look forward to what progresses with IHL42X.Hopefully they do not dilute us further at these levels.
IHL Price at posting:
7.4¢ Sentiment: Hold Disclosure: Held
