Hi Barney, happy to see that you de risked risk 1(independent...

Hi Barney,

happy to see that you de risked risk 1(independent testing), as i do as well.
as for risk 2, i have copied from the asx website this,

ASX capital raising rules

On 1 August 2012, amendments to the ASX Listing Rules came into effect to facilitate capital raising by small and mid-cap listed entities and strengthen ASX’s position as a leading global exchange for emerging companies.
The framework allows small and mid-cap companies to:

• Issue up to 15% of their issued capital without shareholder approval (Listing Rule 7.1)
• Issue an additional 10% of their issued capital (at a maximum 25% discount to the market price) within 12 months of shareholder approval (Listing Rule 7.1A)
• Make additional issues within three months of shareholder approval (Listing Rule 7.1)

Listing Rule 7.1A applies to small and mid-cap companies with a market capitalisation of $300 million or less and which are not included in the ASX / S&P 300 Index. ASX publishes a list of companies in the ASX / S&P 300 Index twice yearly on re-balance date.
The Listing Rule amendments were introduced to provide a viable capital raising option for capital-intensive listed companies by enabling small and mid-cap companies to issue an extra 10% of their issued capital within 12 months of shareholder approval, minimising the need to seek shareholder approval on regular occasions through the year.


From above, it doesn't stipulate who the participants are in raising the capital. It could be implied that existing shareholders, since these people approve the CR( in some cases dont need one), would be the participants, since we're co-owners of the company anyway.  Non shareholder will be given a chance to participate through various brokers.  I think the only scenario where existing shareholders are not included is when the company wants to expand the reach of  shareholdings to other group, like more investors, more exposure.. but again, nxr i believe will do good so i think they have a lot of confidence in the company  and shareholders should be rewarded for believing in the company as well.  
if the public gets asked, there will be a cap anyway.  and for existing sh, it will be pro rata to our existing holdings.
in the end, existing holders, me included has the advantage bec we're in early..(not earlier for me  just like other people here).
just my OP.

good weekend all