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@PayDayGirl:

"Actually I think the company made the right decision in the best interests of the company, and that means in the best interests of shareholders too, including retail shareholders."

You may well be right, but the problem I have is that SOMEBODY knew about it in advance. Somebody was selling PDN like crazy for the few days before the trading halt, and they just HAD to have known what was about to happen. And they took the price down, so that the placement ended up being at 70c instead of around $1.

WHAT the company did isn't so much the issue. It is WHO KNEW about it and capitalized on it by selling it down. Was it PDN or UBS that leaked like a sieve, and if so, to whom? Or was it UBS themselves, after just taking themselves out of the substantial holders' list on 16th July, the day the Quarterly was released, so they didn't have to disclose to the market any future selling?

VERY suspicious, and although definitely worthy of an ASIC investigation, that in itself means nothing, given that ASIC has neither balls nor teeth!