Ann: AGM Presentation & Operations Review , page-7

Christophe,given the number of shares the MD owns and his background I doubt very much the chances of a cheap raising,more than likely when funds are needed it will be a rights issue where management can maintain their percentage ownership.I can't believe they would welcome dilution of their own holdings at these levels by way a cheap cap raising.Managements interests IMHO are aligned with those of ordinary shareholders.I have been a buyer in recent days.