The answers are in the Section 708AA notice issued under the...

The answers are in the Section 708AA notice issued under the Corporations Act.

"iv)the Entitlement Offer will include a Top-Up Offer through which Eligible Shareholders who
take up their entitlement in full are also able to participate in a further offer of additional New
Shares, being the New Shares that have been initially offered to Eligible Shareholders under
the Entitlement Offer and have not been taken up by them;
(v)as part of the Capital Raising,Regal Funds Management Pty Ltd ACN 107 576 821(Regal)
has,through an executed binding commitment letter,committed to$15million(up to
600,000,000New Shares)through the Placement and Entitlement Offer."

Adding the current shares on issue plus the maximum that can be issued under this capital raise gives us a new total of 2,126,000. In order to allow Sexton and his mates to keep control, both Regal and Allianz are forced to on sell some of the shares bought in this capital raise to keep their voting rights below 20% and 9.5% respectively.

"The binding commitment letter provides that Regal must not take up an amount of shares exceeding20% of the total voting power in the Company post Capital Raising. To the extent that Regal's commitment would exceed 20% of the voting power, it must procure other subscribers for any New Shares that would otherwise increase its voting power over 20%;
(vi) following the Capital Raising, Allianz Global Investors Asia Pacific Limited ARBN 160 464200 (Allianz), will, in accordance with an executed binding commitment letter, be issued up to 106,632,952 New Shares through the Entitlement Offer. The binding commitment letter provides that Allianz must not take up an amount of shares exceeding 9.5% of the total issued capital of the Company post Capital Raising;"

We have some weak Corporate Laws in this country that allow dodgy operators to get away with what they shouldn't.