The company had 170 million shares on issue and are placing 115 million new shares at $0.35 per share, which is 5c below last trade.
What a massive dilution of shareholders' ownership of the company.
Now how about giving shareholders the option to subscribe for 11.5 shares for every 17 shares owned at those same favourable terms so shareholders can maintain, if so desired, their same ownership percentage in ADU?
