SPP, page-38

I am finding this all a bit childish. The management were not aware that someone was going to lob a t/o bid at them during a placement.

As in almost every placement I have ever seen, there was an institutional component, then an spp at the same price. The spp was of a reasonable size, that nobody seemed to complain about before the bid came in.

Yes, it has cost me money too because I sold stock after the record date to raise cash for the placement.

The management seem to be doing what they think is fair for small shareholders within ASIC’s rules.

Be grateful that the stock you do own (and the extra you get in the placement) is way in the money.

Could it have been done better? Not sure. But, it is what it is. Take your risk free profit and move on.