Maybe I missed it but under ASX Listing Rule 3.10.5A - point B where the equity is issued for cash, provide a statement as to why do the placement under rule 7.1A and not as a pro rata issue or other type of issue which existing ordinary security holders would have been eligible to participate?
They seem to just give a reason for what the funds will be used for. Does anyone know reason for not giving existing shareholders a look here instead of diluting the holdings a further 16%. Already duilted 5% late december with the 6.8mln share placement.
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 100000 | 0.025 |
2 | 100000 | 0.024 |
2 | 143478 | 0.023 |
3 | 320000 | 0.022 |
2 | 156893 | 0.020 |
Price($) | Vol. | No. |
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0.030 | 148628 | 5 |
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