It is a small capital raising equating to about 10% of the...

It is a small capital raising equating to about 10% of the stock. So it will not dilute the original stock very much and will provide $2m cash in the bank.

Timing, it is my understanding it will be done tomorrow, trading halt coming off monday (or thereabouts) and placement shares trading next friday. Placement being managed by Patersons.

There may be a small sell off on friday when the shares list, but i dont see this capital raising as a bad thing medium term. Small dilution, cash in the bank, increased liquidity in the stock. It is a fact of life that small caps need to do capital raisings, unfortunate that this is not a renouncable rights issue (which is the fairest way to do a cap raising) but this one seems fine IMO.

Boz.