Have ploughed through 38 pages of prospectus and have finally...

Have ploughed through 38 pages of prospectus and have finally settled on a personal view re this placement. The first thing is that I would be very interested in knowing what the funds are for? Is it just developing existing projects or is something else in the waiting?

Secondly, I am not that thrilled about having any dilution, however I do appreciate the fact that the cap raising is made internal and not purely amongst "sophisticated investors" ( = mates who will likewise reciprocate in their raisings). See CTS if you'd like a good example of how to seriously pizz shareholders off.

Thirdly, I am not sure why the company secratary is a "sub underwriter" for 2M shares/options? This should be really strictly at "arms length". Will try and understand why this anomaly exists....

Bottom line, at least we have a choice which is proportional to shareholding....