From reading the announcements to date it seems to me that they...

From reading the announcements to date it seems to me that they already consider the UK assets are theirs. Looking at the Capital Raising Presentation (in particular Slide 9) indicates that the UK purchase is worthwhile regardless of this raising.

The fact that they have not got underwriting for this raising suggests to me that either they are confident of getting the cash, it is not essential for them to have the cash or they couldn't get (or the price was too exorberant for) underwriting. My gut feeling was that the second option was the correct one, although if they are ringing around to gauge the take up rate I am not so sure of that.

As stated previously, I'll be taking up my full entitlement.