Is there anyone out there that thinks this capital raising is...

Is there anyone out there that thinks this capital raising is being conducted in a poor manner?

Personally I think it is a shoddy job.

First, the share price was back up to 11c. Why, I am not sure but the fact is that the result of the last three days of trading had seen the price rise to 11c.

So, I ask why the need to call a halt and announce that a CR will be done at 5c. The only effect this could have on the share price was to send it towards 5c rather than to keep it at 11c.

For mine, management should have taken a wait and see approach as to what the SP was doing before moving forward with the raising.

If the SP had stabilised at 11c or gone higher the pricing and amount of shares should have been reviewed.

And why a non-renounceable offer?

Surely giving holders the ability to trade their rights is fairer to holders and one would assume giving the company more chance to bring in the cash they are looking for.

If you hold and you don't have the cash ..... nothing happens.

If you sell your rights it can be assumed that the person who buys the rights will put in.

I am not a fan of non-renounceable rights issues, especially when they are done at more than 50% discount to the market.

The proof is in the pudding. The share price has collapsed and management should shoulder some of the blame.