Sorry I wasn't 100% accurate in my quotes ... Albers currently owns approximately 28M shares right now, assuming he takes up the rights issue that makes 56M... Now a lot people don't realize that Albers actually owns Gascorp 100% (through his subsidiaries) and that includes Rankin Trend. Therefore, the 120 000 shares we are paying for Rankin Trend goes directly to him, adding this up gives us 176M shares which is approximately 180M as specified in my previous post...
See page 20 of the link below for evidence as to what I'm saying (memo issued for AGM) http://imagesignal.comsec.com.au/asxdata/20091023/pdf/01002270.pdf
Also with the current cap raising (including rankin trend), we will end up with: 91*2 + 120 + 8 = 310M shares (I don't think we will see anymore real cap raising after this)
I hope that answers your question Ahmed.
Tej
MOG Price at posting:
18.5¢ Sentiment: LT Buy Disclosure: Held