Under Corp Law they can only issue a certain amt of shares without shareholder approval.
They can issue 15% at whatever price IE 6.15 mill at say 9 only raising 550t , waste of time to do this, too small amount of funds as they do not need to raise money.
Under the resolutions voted on at the AGM.
80% of VWAP 5 days before raising VWAP 13.5 = 10.8 x 6.15mill shares.
Special Res 75% of VWAP 15 days before raising, VWAP 12.44 = 4.1 mill at 9.33.
I have reported the seller to ASIC that sold the 281t just before the CR announcement.They put a lid on the stock , I will leave it to ASIC to see if they knew or helped manipuate the share price down.
Under Corp Law they can only issue a certain amt of shares...
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