Ann: Capital Raising Update , page-4

The Capital Raising has turned out as i had expected, disappointing, contrary to what Ken Russell states in his release of today.
The share price when compared to the issue price was allways going to be a problem as there was not anywhere near the margin that investors needed to take up their entitlement.
The disappointing aspect with KEY for the shareholders is the ongoing delays with KN#1 commercialisation and i feel that is the main reason apart from the sp why more holders did not take up their entitlement.
Whilst i appreciate the fact that KN#1's progress is basically out of KEY's control, it is now obvious to most shareholders that commercialisation is a long ways off!
KEY management are aware of that and that is why the UK deal is now being progressed asap.
Unless companies that are endeavouring to raise capital in this economic climate have a short to medium term goal to move to production status they are going to struggle to raise the required capital.
I do remain a shareholder but elected along with quite a few other shareholders to not participate in this Rights Issue.