40th fastest growing company in oz, page-8

Oscar,

Whilst a capital raising is probably a good way to go for financing the 'Beyond' purchase (vs. more shares to Prime or debt), I'm not looking forward to further plunges in the SP. To do a capital raising comes the discount, and especially if there is a SPP or similar the SP virtually always gravitates to the discounted price, and stays there for a while.

The SP is already very low (presumably because of the ever present MPH sellers). To discount now would get down to the 20-22c mark, which is where I first purchased my DES holding over a year ago. I grabbed some MPH stock soon after the announcement, to try to average down more investment in DES at a discounted price (again, around 21-22c, when the SP was more like 24-25c). Perhaps I'm being too short-sighted, and it's trivial worrying about such issues when a raising is required to substantially increase the value of the investment, but it would be nice if they could grow the value of the company without having to continually dilute the share base and lower the value per share every time they increase net worth.

It will also force me to increase my holding in DES, which I was considering doing anyway, but it somehow seems a bit empty (short-term) when so many others are getting newly issued shares at the same cheap price! What's the beauty of a bargain when everybody's getting it!

Anyhow ... it's probably a bit late at night and I'm rambling a bit.

On to something more interesting ...

I happened to look at BYI news today, and found a couple of items of interest in the past few days:

Item 1. 23/11/2007 Variation of Takeover Bid by MFI
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http://www.asx.com.au/asxpdf/20071123/pdf/3160ymvq24555g.pdf
- the Mariner offer was extended to 20th December (from 3rd December)
- their BYI holding has increased to 22.41% (from 19.99%)

Item 2. 26/11/2007 Supplementary Target`s Statement
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http://www.asx.com.au/asxpdf/20071126/pdf/3162176nr5gb82.pdf
>>>
Recommending Directors' Updated Recommendation to Shareholders:
TAKE NO ACTION IN RELATION TO THE MARINER OFFER AT THIS TIME
<<<
- 'In response to a request by Destra, Beyond has now entered into a Confidentiality Agreement to conduct due diligence on Beyond'
- 'Destra has requested, and been granted, due diligence access to Beyond, to assist it in considering an alternative proposal to the Mariner Offer'
- 'by law, if Destra makes an offer for Beyond shares in the next 4 months, the price offered to Shareholders must be at least $1.35 per Share'
- 'the Mariner Offer is unlikely to succeed in its present form because it is unlikely that Mariner will obtain relevant interests in at least 90% of the issued shares in Beyond'

Have a read. The latest drama has begun its first act ... let the show begin.

Cheers.