The company is only ratifying a previous placement of 4.0m shares @$1.05,---not committing to another one.
More importantly this company turned its first profit this quarter (around $700,000 EBIT) and maybe a re-rating will be forthcoming.
A great shareholder base with GIO 17% Hunterhall 14% and both AMP and Portfolio Partners around 7%
Cheers
placement, page-2
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