Don't they have to tell us precisely what the funds will be used...

Don't they have to tell us precisely what the funds will be used for. All they have said is :-
"The funds from the placement will be committed to the potential acquisition of a number of
new projects which are in advanced stages of due diligence."

But we need to know who/what is the potential acquisition , to enable us to make a judgement whether to support the rights issue.