joffa, how did you arrive at the 6.8c?I work out 85 million...

joffa, how did you arrive at the 6.8c?

I work out 85 million shares at 14.5c to be the $12.325 million.
Why the disgust?
Bear in mind that the total shares on issue prior to Ir Lee Swee Eng's investmet was around 100 million, so to raise an equivalent amount would have required virtually a 1 for 1 offer to existing shareholders.
This would also have to have been made at a discount to allow for the dilution and would have been virtually at the same price as he got the shares for.
A 1 for 1 capital raising via all shareholders would have resulted in a large number of acceptors placing the new discounted shares on the market looking for a quick profit, which would have driven the already weak price even lower.
Ir Lee Swee Eng is obviously not looking for the quick profit, nor would he be able to re-sell considering the huge purchase and the very low liqidity of the stock.

OK, you and I didn't get a chance to participate, but value was added to the company and what a show of confidence he made in the future of the company.
That confidence will no doubt be shared by a host of new buyers, looking to expand their green portfolios.

In the end, MBT board raised needed funds quickly and without fuss.

Instead of the price falling I think you will see it consolidate from now on.

Cheers