shares on issue

Just completed a few sums to establish the number of issued shares post SPP and raising.

l've rounded numbers to nearest half million

Pre raising we had 192 mill shares. Add 62.5 from the placement, 21 from the SPP and 4 for Orbis's top up as mentioned by the CFO on the teleconference gives us a total of near enough to 280 million shares.

Without paticipateing in the SPP holders will effectively have a 47% dilution. Not bad for someone who repeatedly said "no dilution"

What scares me now is what is being spruiked by the company regarding the oncology spinoff and the one for one talk is we should expect a minimum of another 50% dilution as the instos etc get the red carpet treatment once again under the guise of "we need the support of these large institutions to lay the foundations for our future growth"

Well why is their money better than ours and who layed the foundations for the company to get this far? None of the ones we are told we have to have now.

Serendipity's last 2 posts say it all about our management and how they are viewed by some of the larger holders in ACL.