lio public opt , page-4

Anyone else ticked off about this option issue? It's supposed to a public offer but nothing could be further from the truth.

I have applied but, like the rest of the unwashed, have Buckley's of getting any.

There's been no communication with shareholders and the only way anyone would know the issue existed is due to the asx announcements, which they are forced to make. Lion don't want anyone to know about the issue 'cos they were already allocated before the issue opened.

I rang Computershare a couple of weeks ago to check that my application had been received (my cheque hadn't been cashed). They said they weren't keeping a register and were sending any applications to Lion.

Last week I spoke to Toby at Lion. He said the issue was being finalised. I asked whether the public were likely to get any, or indeed most Lion shareholders. He said that although it was a public issue it was really a placement with a prospectus. He was also reluctant to talk about it.

Don't like this one bit. All shareholders should be treated equally. If the company want to make a cheap placement to mates then they should fez up and say so. Shareholders can then harrass them.

I've had a feeling this stock has been held back recently and wondered whether this was because they didn't want to be flooded with option applications due to the issue price looking so cheap. Lo and behold, as soon as the issue closes LIO takes off!

cosmos