"material announcement in relation to capital management initiatives”.
What the hell does that mean ?
'material announcement' means something which existing shareholders really want to know about, and cannot be left to the smallprint.
'capital management initiative' means that they may wish to go to the stock market and raise some cash (we're talking over US$100mn) by selling some more shares - also known as a secondary public offering or a rights issue.
Taking this kind of action usually happens either when a company wants to buy up a major rival, or it reckons that it's in trouble and needs some spare cash for a few imminent rainy days