Placement at 30c

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Under the terms of the Placement and the Rights Issue, the Company proposes to raise up to AU$30,500,000 through the issue of an aggregate of up to approximately 98.7 million fully-paid ordinary shares at a price of AU$0.30 each, comprising approximately 51 million shares under the Placement and up to approximately 47 million shares under the Rights Issue.

The AU$0.30 issue price represents a 10% discount to the 5-day VWAP leading up to Friday 17 April 2015.


Absolute ridiculous that they would place shares at 30c with so much news and advancements of late


As always happens the price will settle back towards the placement price or lower after dilution effects take place

IMO, there will be a huge sell off on opening