Ann: Institutional placement-PEH.AX, page-3

Maybe I'm naïve, but if someone wants a decent stake in this company, I think they should have to pay a premium for it. I'd love to see management back themselves a bit more and try for a placement at or above current market price. The Envirosuite story is a very exciting one, and these guys should be able to sell that story with confidence - that's what they are paid to do. So I'm a bit disappointed to see more dilution at 9c, just as we were gaining good momentum. On a mildly positive note, this presents a great opportunity to buy more stock in the 9s.