Ann: Notice to AIV for requisition of a general m, page-6

re: Ann: AFA: Notice to AIV for requisition o... Yep, agreed, but nothing to stop any aligned holders selling down the shares pre placement. In fact I have a suspicion the low share price pre the original placement to ASF was probably orchestrated. Pretty easy to do.
And whenever people see a cash flow position that looks low they start selling out in anticipation of a raising anyway.
If ASF have the board all they need to do is hold off on doing anything that has the chance of good results until the cash position becomes an issue.

I am not a fan of the current placement rules, I understand what it supposedly was designed for but IMHO it seems to be used to keep brokers in a job and allow bigger players to get a foothold in companies at very low risk without having to buy on market.
IMHO 10% max non ratifiable would sort the men out from the boys. :-)