Ann: Notice of Annual General Meeting/Proxy Form-TAS.AX, page-5

Herer's why a pro rata capital raising would be good for TAS holders

1. The finds would allow TAS to convert the EDEO options controlled by TAS into head shares, avoiding dilution of control
2. The funds from the converted options would flow through to EDE to be used for the Georgia plant construction
3. TAS holders would benefit from the improved funding of EDE and consequent increase in value and number of EDE shares controlled by TAS
4. TAS holders would end up with more TAS shares with a higher intrinsic value and acquired at a discount to the market price.

I see this as a win-win-win-win outcome for a situation that will have to be addressed in the next 18 months or so.