Ann: ORN to Raise up to $2.4m in Underwritten Entitlements Issue, page-14

81 million new shares however this far exceeds what they are allowed to issue without shareholder approval.
Unfortunately Creasy will ensure that the vote will go in favor of the company due to his holding.
What donkey would ensure shareholders dilution to this level, as experienced already this morning, by issuing 81,000,000 new shares at $0.03???
The pill wouldn't be so hard to swallow if in fact they issued some proof that this cap raising was in fact going to benefit the mum and dad retail shareholders of Orion, rather than prop up their salaries and freebies?
Not too many shareholder of ORN at present that could state they are in the "black" at their entry price?
Extremely disappointed with this decision by our CEO and board but just typical of the rampart abuse seen daily in the small cap market on the ASX?