Asteroider,I suspect that part of the reason for you taking...

Asteroider,
I suspect that part of the reason for you taking issue with the current approach by KEY management to have the option to place 70 million shares with sophisticated investors is the dilution that it will bring to current long term holders as well as your suspicion that the sophisticated investors may turn out to be in it for a quick return - and the resultant pressure on the share price going forward - so a freebie to sharks who have not been in KEY for the long run?

I fully support your argument that it would be better to place the 70 million shares with long term investors who have shown a commitment to investing in KEY over a longer term.

Why then do we not propose that the top 20 shareholders (excluding management)be included in the list of 'sophisticated' investors; giving them first right of refusal; before the offer is made to 'outsiders'.

That way, you, I and, I suspect kalmsg (and also some other HC regulars) would be entitled to participate in the share issue - providing some stability on the share register :)