Should it have been done this way

Have been doing a bit of research into Capital raisings

it would appear that the fairest way to do this by all accounts is by a A rights issue

Therefore ANP looking to raise $2.5Mil @ 11.5c equates to a total of 21,739130 shares

We have a total of say 140 mil shares on issue 140000000 divided by 21,739130 = 6.44

So it could have been done on 1 new share offered @ 11.5 for every 6 shares held

A 1 for 6 would have calculated to 23,333333 shares Giving a cash value of $2,683333.00

It could have gone something like this

Summary of key terms of the Entitlement Offer Under the Entitlement Offer,

Eligible Shareholders (defined below) will be invited to subscribe for 1 New Share for every 6 existing ordinary shares in ANP held at 7.00pm (AEDT) on Friday, 31 November 2013 (Record Date) at an offer price of 11.5c per New Share (Entitlement).

Further details about the Entitlement Offer

Eligible Shareholders who take up their full Entitlement, may subscribe for additional New Shares from a pool of those not taken up by Eligible Shareholders as at the closing date of the Entitlement Offer (Top Up Facility).
There is no guarantee that applicants under the Top Up Facility will receive the number of New Shares applied for under the Top Up Facility, or any.
The Directors reserve the right to allot and issue New Shares under the Top Up Facility at their discretion.

If it had to be done this is how it should have been done very similar to the loyalty issue

Exception here, holders would be allowed to take part in the shortfall,

unlike the loyalty option issue we were locked out by Pattersons.

Which I took exception to and made my point with management which once more got me nowhere.

At least if done this way it may have prompted people to buy to increase their holding by the closing date to increase their entitlement to the cheap shares on offer.

I have written to Mark prior to the release of the FDA Ann asking for clarity of just exactly how many numbers are doing what, nothing was forthcoming in the FDA Ann

I will be calling the office next week to take this up before the SPP closes this is vital information that management have chosen to invest on,

How can I make that same decision

Forgive KPs outburst on Friday we spoke and I made the comparison between Capital raising,s between the years it is a an absolute disgrace.

Just about had a gutful

my call next week will determine my future investment in ANP

GO ANP