This just goes to show how much management stuffed up their...

This just goes to show how much management stuffed up their handling of the announcement.

If they had made the announcement then gone into a trading halt right immediately (given it would have been obvious to them at that time that they needed to raise cash), assuming they could have raised the same amount of capital with between 50-75% less dilution than we'll have now!

For directors of a publicly listed company in this day and age, that demonstrates either extreme incompetence, or complete disregard for existing shareholder value (I don't know which of the two is worse).