Ann: Quarterly Activities report-NTL.NZ, page-6

Amer gave us $50,000 - we can't just say "we're not going to seek shareholder approval".

The announcement says that Amer acknowledges the fact that the rights issue was successful - i.e. we don't need to hock off our great asset at a bargain for no reason.

You're right, the offer might get better, but I really do not think any shareholders will vote for it.

Consider H E Brown, for instance, the largest holder. Why would he literally throw his recent $550k top up via rights issue down the drain?

Amer deal ain't gonna happen!