Maybe those with more knowledge than I can explain this one.
What benefit is it to RWD to have a market aware that a future stock placement will be imminent?? Does this not telegraph to the market that:
A) The placement will trade at a % of historic levels
B) The current stock holders worth will be diluted
It's in the interests of those with the fiscal muscle to do so to keep the SP DOWN (check out those cappers at 1.99, 2.01 and 2.05) - effectively forcing the RWD SP into limbo until the placement is issued.
As a shareholder I certainly appreciate the honesty of the RWD board in stating openly that they want to cap raise with a placement, many other companies out there (AGM is a great example) would just issue the placement and then tell the shareholder they did it AFTER the fact.
Hopefully it's upwards and onwards for RWD.
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