current shares on issue 382m, new shares under this placement...

current shares on issue 382m, new shares under this placement 250m = summit owning 40% of the company just based on this placement.

if proper directors they should negotiate a fair deal for current sh to either sell the business for a fair price or raise a cash at a reasonable price. this seems like a deal to dilute current sh for the benefit of summit.

these new directors are getting paid a bucket load for a deal any jo could negotiate.

disappointing