Ann: Rights Issue Prospectus , page-8

"Ex-dividend" is just the general/global term used when anything becomes "ex" of anything, including rights or a SPP or some such thing. Maybe they should just call it the "X" date, and a big red X could flash up, warning us. We do get the options, though, if we are in on the date.

I put on the day trade forum yesterday, that this one seems to be a closed shop, and that people shouldn't pay too much if they want in. Like you, I've been watching GLA, and it seems like there is what I call "discouragement"- like the share price drop today. Of course we know that anyone can sell- it's very legal to do so! However, given the short ex-date, it is hard to know if Pato's and CPS will go for a *third* raising, whereby the price would be dropped further. This happened with NAV- very unpretty (I didn't and haven't held NAV).

These kind of closed shop shares have their attraction- few shareholders who dominate the share, and thin liquidty, meaning potential share price booms- CRL is similar (I hold that one, too). However, one feels like an "intruder" when one buys, because it seems like the shareholder base is so slim, that no-one much trades it.

So, tomorrow is the last day before ex. If the SP remains low or goes lower, and is "discouraging", the large holders may still shout for the $6.1m raising, but it won't be attractive for small retail holders to do so when one could buy on market for less, or the raising gets reduced.

Days of our GLA.