The whole scenario appears to have been backed by the insto's...

The whole scenario appears to have been backed by the insto's who obviously wanted to keep the exposure to Epic Stage 3 (well supported by hastings to maintain the gravy train). I can't see any other way to understand how Hastings can have confidently brought this plan to the market.

I hope you are right about it going up, as a holder I am stuck with reinvesting either on market if the price stays low or in spp. Still at 13% yield and regulated growth assets you would think it is pretty compelling at 90c once the whole process is complete.

Still worried about the dump though when 100M of stock goes to the underwriters.