Ann: Results of Share Purchase Plan, page-14

Each share in the company ranks equally whether you have held for 1 day or 10 years. That why its called a share. As for early applications getting more and later applications not being as 'loyal', what a load of crap. The SPP was open for a designated period of time and no where did the SPP say early applicants would be considered more loyal and get preference. As for why not take it all, i prefer them to not dilute if they don't need the money. They are going to have double in the bank compared to what they need to construct. And future construction should come out of cash flow once operating. Pointless to dilute if you don't need to