Ann: CardieX Successfully Closes Oversubscribed $5.5m Fundraising, page-14

Not sure what doesn't make sense, but I'll try again:-
- Whether retail holders should get the opportunity to participate in raising is open to debate however I think when you have legitimate 3rd parties stumping up some funds holders don't mind, but when half of the raising is from the Bod / Management it can create questions!!

- Cooper and Cairns Company C2V were issued 75m shares under a placement @ 2c earlier this year and are now being issued another 83m+ odd @ 3c for a total of 158m+ which will be approx 22% of new total share no of 715m (just using round numbers for ease)

- This placement has been issued under listing rules 7.1 & 7.4. Approval of Res 4 at AGM allowed for an additional 10% placement (over and above normal 15%) which obviously they have calculated the 183m share issue fits.

- The 20% rule prevents a shareholder taking more than 20% of issued capital without lodging a takeover or be subject to an exception. One of the main exceptions would be shareholder approval, however shareholders are not being given the opportunity to have a say and ann is totally silent on the fact C2V will hold in excess of 20%

Shareholders may well be happy with all of that, however placement of significant percentages to associated entities of those in control should, to my mind, be subject to much more rigorous analysis than just saying it's ok because we now have $5m in the bank.
Dilution is something holders have to put up with in Companies like this but sometimes it is worth looking at the other side - in this case the rise of C2V shareholdings and their intentions.
Remember Cooper & Co must have a better understanding of the investment in InHealth other than the nondescript comments we have been provided on that Company!!