Well it's almost exactly 12 months since the last one which was...

Well it's almost exactly 12 months since the last one which was also prefaced by an optimistic Investor Presentation.

To refresh memories the last one in May 2014 was to fund the purchase of LivingSocial on a "5 for 27 pro rata renounceable entitlement offer (with retail rights trading) at an offer price of $0.45 per share"

It was mostly dismissed by retail investors who could buy on market below the offer price but the Institutional side (including Catcha and Middle Kingdom) was supported from memory.

If you look at the share price since then you can see the Mum and Dads got it right. The new shares started trading on May 13 @ 0.30.