And what about existing shareholders.? Sophisticated and...

And what about existing shareholders.?

Sophisticated and Institutional Investors, let alone the Directors, allowed to participate, but no shareholders participation that I can see. Go Figure.!!

""(Tranche 1 of the Placement is being undertaken pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1.
It will raise approximately A$15.3 million via the issue of approximately 66.7 million new shares. Settlement of Tranche 1 of the Placement is expected to occur on or around Wednesday 29 April 2020.

Tranche 2 of the Placement will raise approximately A$6.7 million via the issue of approximately 29.0 million new shares, subject to shareholder approval to be sought at an Atrum General Meeting expected to be held on or around the third week of June 2020.

All members of the Atrum Board have subscribed for shares in the Placement, being approximately A$343,000 of the new shares in Tranche 2, with this subscription also subject to shareholder approval at the same meeting.)""