Ann: Notice of General Meeting/Proxy Form, page-2

That explains Tesserent's cash position.

3 million will cover the Asta acquisition and given them extra cash for the balance sheet.  

The only concern is the current share price, and the capital raising being linked to the share price at that time. 

I suspect TNT has some good news coming (could we be cash positive this quarter??????????) which will be released prior to the capital raising, to push the share price up a bit.

As it stands, shareholders who bought shares at 7c pursuant to the recent SPP must be feeling a little short changed.