Ann: Uscom agreement with CIIC Shanghai-UCM.AX, page-9

According to the ASX's website they definitely announced the equity raising.



It is also something they don't need permission for form the ASX to do first nor does a TH have to be made announcing a pending cap raise.

Other than that this is a good outcome, however, it is a target sales rate. That said if CIIC even just do a quarter of that rate, it should be enough to get UCM well over breakeven in CY17 if sales elsewhere are growing as expected (50% YoY). A few thoughts for me are: it seems to be a short timeframe to get CFDA approval through given first sales are targeted for 1Q FY17. Also from my observations, Chinese partners tend to be hit or miss, either really good or really bad but maybe they have good links/relations through recent director Chao Xian, who headed up business dev for J&J in APAC and China, thus mitigating that risk.