half yearly report, page-7

The option thing is watfords not mine. I just have TIMPB, but I figure I virtually cant loose. I bought these at $1.40 so already showing a paper gain of 15% over 5 weeks. The SP in Sep 09 would need to be below about 30c before I would see actual loss.

If TIM is performing reasonably well by Sep 09 and still paying div of about 5 c, then ongoing return is still about 15% + franking on my original investment. I would be tempted to retain the shares just for income stream in that case.

Neil