interestingly, just last friday transerv annou, page-5

goarmy,

I missed it first time I read it, but in fact there is a mention of a CR in the announcement. On page 2, the letter from TSV to the ASX, the wording is, "... pending an announcement by the Company regarding a proposed capital raising."

Although, I agree, it is my belief also that the arrangement had already been made, and the timing of it was such that the SP did not run away too much (which would have left the party supplying the capital with a lesser share).