Todays AFR states that ACL looks to have found plenty of takers for its $14.6 million placement through ABN Amro. The placement will be followed by a share purchase plan raising up to $5 million.
Expect the share price to be trashed when opening by so called sophisticated investors who will try and make a profit as quickly as they can sell.
This is the worst news possible for the company in their greedy dash for cash. Management has lost a lot of credibility and it could be a long time before the share price is seen over a $1 again.
Very disappointing.
Todays AFR states that ACL looks to have found plenty of takers...
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