"its shareholders turn to talk", page-16

I still can't get over todays announcement, although Scandal picked up on it straight after the trading halt @ 1.7 it has taken a while to sink in.

Disappointing that that we are raising to start off with, Thermalife income could have provided if Launch was planned and executed with professionalism, even if money was required we could have raised at double the current offer is at with half the shares. Shareholder sentiment would have been higher and many would have participated.

The ann says the money will be used as "Working capital purposes" no further breakup, no mention of projects or Thermalife marketing campaign.

Breakup of money raised...
Tranche 1. placement doesn't require shareholder approval. Options do.
Tranche 2 placement require shareholder approval together with Options

Shareholder non?]renounceable pro?]rata entitlement doesn't require shareholder approval. Record data TBA in August.
BTW this includes Tranche1, so mates will double dip.

Shareholder approval required for distribution of Options to previous optionholders and CPS Securities.

I though shareholder approval was required when more than 15% of total new share were to be issued. 15% of 1.059 Billion shares is 158,000,000 altogether Tranche 1 and rights offer were 245,000,000.