The difference being that two of the significant shareholders are part of the management team and would should only be interested in earnings accreditive "dilutions". My guess is that the share placement is the first of many that will be used for the purchase of more Australian ECE's. If raising another say $25m allows the purchase of more ECE's that will add say $6m to EBITDA, I'd say go for it as the increase in EBITDA will be a lot more than the increase in shares on issue.
Bookmarks