"shares at a price(s) to be determined by the Board of the Company, but not at less than 80% of the average ASX market price over the five days on which sales in the securities were recorded proceeding the date of such placement(s), within 3 months from the date of this meeting to such professional and sophisticated investors as the Directors may determine,.."
Well they have ~2 months left and a discount but look at the sp now.
At the rate the sp is going 12m new share aren't going to raise much and the dilution will be the same regardless of the amount raised.
Let's hope the CR has been finalised. Maybe they'll get >36c/sh.
Every 1 cent the sp drops over 5 days a CR like this looses 122k.
TRF Price at posting:
40.0¢ Sentiment: None Disclosure: Held