Ann: Non-Renounceable Pro-Rata Rights Issue - Rev, page-43

re: Ann: Non-Renounceable Pro-Rata Rights Iss... blastoff

A miserable (in terms of amount of capital raised) rights issue while massive production and sales are ready to roll. What's going on?

There is no comment on this in the presentation for the AGM released yesterday. Just puffery in the highlights listed for 2008 - most items exhaling cash, not inhaling it.

This discrepancy needs to be explained in detail by SLA.

We could be forgiven for thinking that sales are to SLA what new clothes are to the Emperor, i.e. invisible.

http://en.wikipedia.org/wiki/The_Emperor%27s_New_Clothes

Shareholders might have hoped that sales of Bioeffective A320 over the past few years would be providing working capital. The sales have been pitiful.