Firstly I actually need money in order to take up the entitlement! With the huge drop in DOW I thought I should lock in as much money as possible to raise funds for entitlement and have money to spare. Would then return to previous holdings after taking up entitlement. Typically (because I sold!!) the stock was not punished and it is actually holding up very nicely!!
My other reason was all my remaining holdings I've held for over a year anyway so if stock was to explode next year I could sell 1/2 again, reap the tax benefits and still have 1/2 left (from entitlement) for more profit. Chances are I would only have sold 1/2 my holdings anyway on a price rise next year even if I had kept all my holdings. Also, will probably be at least a year before big prospects are drilled anyway so will get tax benefits again for entitlement shares.
Only downside is I could have had 50% more shares in November by not selling, providing I could raise the money for entitlement.
EPR Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
