I support most of what you've said with the exception of the "much tighter" capital structure. I posted this earlier today to compare today's prospectus offering to what was being suggested in early December. It is true that fewer options (30mil vs 409mil) will be issued but the trade off is that more shares (975mil vs 820mil) will be issued. In addition, there will be 150mil management performance rights granted.
As for the bonus loyalty options announced last year, no mention in prospectus but if this offer is to be rescinded I would think that a separate announcement would be required. What do you think?
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