No surprise really, it could be as high as 25% of issued capital...

No surprise really, it could be as high as 25% of issued capital under the Listing Rule 7.x - so about 50m fresh stapled securities.

Will be interesting to see who Michael Hackett has used to shore up his and Adrian Rowley's votes at the AGM and got to throw some cash in to the company so he can spend it before he gets ejected and what sort of discount he had to offer to get someone to stump up.

Can't see much more than about $4m being raised and that wont get the company far but will allow him to draw down upon it for himself for supposed expenses accrued, it will be referred to as "working capital".