Ann: Entitlement offer to fund growth, page-20

I just sent this email to LCY - not expecting a reply

Good morning,
As a shareholder I read with shock and dismay the announcement to ASX of the 3:1 renounceable issue at 1.4 cps.
I direct your attention to the postings on the forum HotCopper the major Australian shareholder's site and would like to know with the overwhelming shareholder dismay how you expect this issue to succeed?
There is nothing to entice us to subscribe to this massive dilution or do you have a major SUBSTANTIAL announcement up your sleeve.
Would you please advise,
Respectfully,
Mal