Don't forget they just did a placement for 15% of the then issued capital only a couple of months ago and even though they have lodged a cleansing statement I think there is a waiting period and the shareholders need to vote an that issue before they can do a fresh round of private placement. Also 25% is the 15% ASX Listing Rule 7.1 which doesn't require pre-approval from shareholders and the additional 10% from ASX Listing Rule 7.1a and that does need pre-approval by shareholders prior to any placement.
I think it is all rather exciting and will be interested to see what comes out on Monday too. Don't think it will be Wesfarmers though, more likely an local SI or offshore party.
SFG, page-14
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