SYR Potential CR, page-9

Confirming announcement out now.
The $579K is not "desperately needed" if the company execute the declared strategy of selling the SYR holding and returning funds to investors via a fully franked dividend. Logically the sale should happen within this fiscal year after the SYR price has recovered from the cap raise, and potentially had a kick along from off takes and other positive news, then the dividend should be received sometime around July~September 2016.
In the meantime the company is running itself on the smell of an oily rag, or as close as you get to that with a listed entity, and existing cash should have been enough to get through to the distribution. This new $579K should be excess to requirements and I assume will be tucked away. Perhaps there is even an argument to buy some more SYR shares if the price is still <$3.50 when the cash is received! After all, CSE in its current form is a pure play on SYR so holding excess cash is inconsistent with that...