sparcs conversion figures due on friday, page-59

Mark,

As I see it (I could always be wrong) the big guys have said we indicate that we will go for the deal by rolling over close to 67%.

However, we are in a position of leverage, so therefore we will hold onto the leverage until the deal is done and dusted in May. Makes commercial sense to me, as in smart business you never let go of your leverage until the deal is signed off IMO.

Cheers