Ann: Placement to Raise $1.033M , page-11

amer222333, you may have hit the nail on the head.

If the sophs don't dump out (after all it is a 'low' price), after issue or the shares and assuming option conversion, it is likely the company will have a completely new top20 with around 30m shares issued, which will gut many of the other long suffering top20 holders, and deliver the board with a top20 full of shareholders who were set in the company at a low price and therefore will vote for anything the board puts forward where as existing loyal shareholders would be less likely to vote board proposals forward. I guess the board didnt like the big no vote a few months back and decided to take action to dilute the no voters.

The coup on the register I have been warning about.

Classic Perth move IMO.