Recently I heard Domenic was going to be in Melbourne today to...

Recently I heard Domenic was going to be in Melbourne today to conduct a presentation to a particular broker.
I had my suspicions regarding another raising.
As others have pointed out with the business improving and debt slowly being retired, the light at the end of the debt tunnel could finally be seen.
As Chillam has pointed out, it appears that maybe the due diligence conducted by Domenic was lacking.
Could it be that the Track business was purchased at a high multiple, rather than the low single digit earnings we were led to believe.
Another 41.5 million shares to dilute the current holders, who have supported the stock price for the previous 18 months?
"The rationale for the capital raising is to provide additional working capital for growth opportunities and accelerate the deleveraging of the balance sheet."
I'll be shaking my head in disgust Domenic, if a large portion of these funds are not used to indeed deleverage the balance sheet.
Lets hope the raising closes tomorrow over subscribed!

Cheers Lute