[QUOTE="Shady Merv, post: 26678715, member: 107798"

The timing of the TH is interesting; I day after another good Wodger Report. So, why do a low ball CR now?

The consolidation was done to reduce the number of share on issue, but we are now creeping back up. I'm fine with 49m AUROA as it involves participating shareholders but won't be happy at all with 50m to SIs at say 7.5c.[/QUOTE]
I think your comment about the timing is very important. It's a bolt out of the blue in fact.

I would suggest that the BoD are very conscious of not upsetting SH generally and loyalty holders of AUROA in particular so my guess is it's an opportunity that has come to them (I.e. CI/big fish) and it is priced at not less than 8c.