Issuing shares at a premium to market is clearly desirable....

Issuing shares at a premium to market is clearly desirable.

However, the key issues I have:

- Board and Mgt has ZERO credibility to actually do deals given how much shareholder value has been eroded in the last 12 months
- there is a placement of 63.5m shares at 22.5cps which effectively dilute exisiting shareholders!!!!! So what if this placement is at a premium to market, it's at a MASSIVE discount to IPO price and 52-week high
- the acquisition looks to be outside UBN's core competence which given existing operating performance issues should be a red flag
- very sneaky to launch an issue like this during the holiday window
- the new Private Investor, Argosy's value add should be explained better