The Road to 300 MW and $2 a share, page-3

I sure dont have a problem with a cap raise if it generates the sort of EBITDA Zenith deliver. A cap raise will only prove Zenith is worth more and more - as they will grow more and more. When I personally chatted with the guys at Zenith last year re debt and borrowing they have things in place to get more borrowing if they need. They are always way ahead of the game. I just asked them 'please, if you cap raise again, look after us little guys - not just with crumbs'

In short, they have a number of avenues to raise cash or lease to build highly profitable power stations. The management do know how to manage.

Now, re the last 58 cent cap raise there was indeed a big offering to retail guys. And they they did not take it up. I did not take mine up, I just bought my allocation BELOW 58 cents. So any retail guy could have gorged up below 58 cents. And credit where credit due. The instos and management coughed up at 58 cents when the price was below 58 cents.

You may be very wise that Zenith management have some HUGE projects up their sleeve, but they cannot fund them. It is possible, hey. But!!!!!!!!!!!!!!!!!!!!!!!!!!!! if that were true then PEP and now Apex will know. So they should be willing to do what is needed to get their offer over the line.

From my view, I have not changed my position for two years re the future of Zenith, its prospects, and its UNDER share price. I sold my BHP and WPL and ANZ and TLS and EVN and NST and more.... to put into Zenith as is prospects were much more secure and moated in my opinion (this was before covid and I think still applies - even more - since covid).

The delay re the scheme. That is a mystery. Apex bought 17.5% on market without thinking about it for months. Now they cannot decide what they want to do. We will never know what the delay is, but it is GOOD.. maybe?... because

1) if it delays into July/August we will see the annual numbers
2) I hope the delay gets us another 7 cent special franked divvie (for the eps 2019-20)
3) if it delays into September... even better... the scheme will die a sunset death

There is a huge chance PEP end up with nothing. And Apex only end up with their 17.5%. And I will tell Doug and Hamish and Graham us retail guys will look after them. Them rollover guys will end up BETTER OFF long term.

Now the share trading of today. YIKES. Maybe I am completely wrong. YIKES x 2. 94.5 cents. YIKES x 3.