Ann: Renounceable Entitlement Offer to Shareholde, page-27

re: Ann: Renounceable Entitlement Offer to Sh... Amer,

It would be interesting to see, and I'm not sure I have the answer.

Even if the SP holds at 11c or just above, I doubt there would be significant take-up of the rights offer.

It wouldn't reflect too well on management if they have to go back to the market with a revised offer either.

Maybe this is to test the water, knowing that if it is unsuccessful they still have sufficient cash to fund the purchase & its subsequent expansion, as well as working capital for perhaps another year or more.

Maybe it is the eternal optimist in me, but I still think there is positive news on the way to support the offer at its current price.

I hope this helps.