Ann: Accelerated Non-Renounceable Entitlement Offer, page-7

I don't really feel like AJQ are to be trusted with respect to doing right by the existing shareholders. There is often no arms length with their options, underwriting having association to the directors' interests or related companies. The deal with Carnegie was fundamentally poor with respect to the terms as well. I don't think they were in a position to have to take that based upon what is available, capital wise.

And here we find:

"The Entitlement Offer is fully underwritten by Samuel Holdings Pty Ltd (as trustee), an entity associated with Armour Chairman, Nicholas Mather."

Of course it is.

And we'll be sold on the goodness of Nicholas of taking on the risk, but ultimately he's putting himself in a position of potential benefit too.

The retails and instos get the benefit of this share price, not the current shareholders.

I see sussness people, I see sussness.