JRI IVZ Fireside Chat - March 26, page-558

LOL.......That is literally how every company on the ASX gets started.
Not sure its any revelation.
OUR problems really started when Bakered faarked us. Apart from me I don't think there were too many who realised the long term issues that disgrace had the potential to cause.

Then 2 side tracks have clearly drained any cream that was to be left over....my guess is substantially more than 15 million extra killed there.
Once IVZ went down the go it alone path the only way to pay for their share is via placements.
I do not blame SM for raising money and to be fair they have done a pretty good job on price but have failed on timing repeatedly.
I was slightly aghast that SM took advice from insto's on the 1 for 12 rights issue.
They don't want retail to have any shares....why would you ask them? I said at the time 1 for 12 was idiotic and it seems SM now agrees they wer bulshitted to.