Ann: TSI Fund Capital Structure Review Outcomes , page-22

re: Ann: TSE: TSI Fund Capital Structure Revi... I did expect a 12 cents dividend in 2011 and so did a few
analysts. At a price of 95 cent a share it would have been a
return of 12.6%. To get the same return now, with a proposed
8.4 cents dividend the price should be around 66 cents.
And I have seen a few companies under similar circumstances,
were the price of their shares dropped below their entitlement
offers. I'm not implying that this is going to happen with
TSI, but it's not out of the question.
The persistent sell off over the last couple of month is
leaving room for some speculation as well.
A number of members on this board tried to explain it at the time with the discounting in the reinvestment plan.
I did find it rather strange at the time and despite my gut
feeling bought them as a long therm investment.
I'm keeping some of my powder dry, in case it goes under 70 cents.
Cheers