Ann: Non-Renounceable Pro-Rata Rights Issue - Rev, page-23

re: Ann: Non-Renounceable Pro-Rata Rights Iss... Sorry Brabus,

Any parties holding say 1% before the issue will not own 1% of the company after the issue even if they take up their full entitlement. This is because they will not be 'invited' to take up any shortfall which goes to the 'mates'.

For this reason it is in fact dilutionary. Control of the company is being transferred ( cheaply ) - step by step.

Blastoff