Ann: TMT Share Placement Completion, page-44

Well said Rhys, agree re your comments that cap raisings are generally rushed.  Management would have known some time ago they needed more money, so needed to pull the trigger before the quarterly in my opinion.  As soon as the market knew the cash  position it was all over.  If you take the value of the options into account the cap raise is really being done close to the IPO price and a huge discount to all metrics.  That’s a real slap in the face to shareholders