Ann: Renounceable Rights Issue , page-3

hi tarsk,

prob the fairest offer trf has made to date. no fiddles here just a fair offer to everyone. overseas shareholders are treated differently but I think I personally will be able to sell my rights with my oz held broker ok. as for my other holdings, I should be 'registered as an ozzie' through the oz broker via my uk and nz brokers. I hope so but as fair as it can get anyway. poor buggers who bought last time at 20 !

playing for time 'till ife cash flow comes along is the best way I see it but in all honestly I would have expected trf to have waited longer having waited so long anyway.

if all goes well and according to plan from here on the dac meetings, we'll not get any benefits from ife imo until well into the second part of 2014, so the gut tells me trf want to move forward without too much dilution as they do not have too much in the kitty.

not overly happy about it all but still very confident on that dac and ife progress being positive for us all.

if I am wrong then I will pay the price.

depends on whether I am allowed to take any of these up so will have to see. that ife sceanario tells me I should where I can.

it's a strange move by trf at this time and I can only read into it what I have said above.

there was a grand opportunity thro those once imminent dac news meetings we have now had twice in a short time but there seems to have been no fiddling the share prices to have made this a better strike for trf's coffers. that pleases me a lot.

I hate rights of any kind. shares nearly always suffer prior to them.

imo, trf is still driven by what happens with ife in the short term. tin or no tin.

now to look at my wtp investment.

'somin's working nicely ted, eh ?

my Ferrari is too 40, I just wanna get it out on the road !

be good,

40.