Ann: Institutional placement-PEH.AX, page-7

On the plus side, we're now a lot stronger financially without the risk of being asked to contribute ourselves in a few months' time. When there's a shareholder purchase plan, often existing holders sell down in order to take up their entitlement at a discounted price. We won't see a flood of small holders selling in this instance, so there's no reason why the shareprice shouldn't resume its northward trajectory. Hopefully those who took part in the placement are in it for the long haul and we'll now resume a steady rise back above 10c and up towards 20c.