Ann: Trading Halt, page-366

In my past I have been involved, as a company director, in raising additional capital. I have always been infavour of giving current shareholders the first bite of the cherry. I have seen companies raise capital by a large placement to a single fund or institution where their new holding can be used in two ways. the first is to take an immediate small profit where the extra shares to be sold in the short term crashes the share price. The second is where they can use their large holding to dominate the old management and board to the extent they take over running the company, often with disasterous results.

It would make sense for SYA to allow the status quo to remain with an SPP to current shareholders. It may be that the current large shareholder is already in control mode and will be setting the rules. We should know very shortly.

While typing this the news came through. Good news for shareholders.