Ann: Entitlement Offer-IRD.AX, page-2

I'm pleased that IRD has included its shareholders in the CR. I'll be in it. Too many companies ignore their shareholders while offering nice discounts to directors and "sophisticated" (ie, rich already) investors. No discount is fine, because that maximises cash raised (it's a wash for shareholders, but the higher the price the better when others are participating). The main risk would perhaps be if shorters decided to hold the price below 0.10 to make the offer fail. Fortunately that seems unlikely to succeed, because so much of the cash is already committed. GLTA.