ann out, page-9

One Fat Lady,
Just a variation to your experience. I have been burnt where the sp dropped after taking up a share issue. But over time what I have found is that if sentiment around the share issuing company has been good then successful completion of the share offer will result in an increased sp. If the company sentiment is poor then fingers can be burnt. While I believe that sentiment for FDL is very good some shareholders and traders wont take up the offer because the price is no longer at a discount to the current price. This in itself will not be a problem for the company as any shares not taken up wlll IMO be offered to and snapped up by long term investors who recognise the benefit of funds from their purchase going to the company. The taking up of these shares by the bigger players will be seen as a positive for the company. At least by offering some shares to existing shareholders this the company avoids a lot of criticsm that existing shareholders have been overlooked.

cheers
SAV