Hi Drewie,I received a similar phone call. I can see how it...

Hi Drewie,
I received a similar phone call. I can see how it could be attractive to some and I think if I was in a different situation I would consider it, however I am choosing not to take up the shares. The offer price is just too close to the market for me to expose myself further on this one. Also my partner would kill me given that I have lost half the families supposed retirement fund money already on this one over the last year!:)
I was tempted to try for a quick grab and buy some via the offer, and simulatenously sell the same share quantity on market at current prices which are slightly over the 7c so as to make a little gain but I didnt. For a few reasons
a) I was a bit nervous that if it was oversubscribed and they didnt give out all the shares, I would end up with less shares than I had now.
2) The gain at current market prices would be very minimal and it would come with the problem that all thos shares Id just bought have a current CGT purchase date, whereas my existing shares are all over a year old now, so the CGT attracts the 50% discount for me. (assuming that I ever make a gain on these ones:)