Ann: NewSat Share Purchase Plan (SPP) offer docum, page-4

re: Ann: NewSat Share Purchase Plan (SPP) off... I actually called AB to ask him about this and a series of other issues. He said they didn't want to get institutional funding because there was absolutely no doubt that the SPP would be taken up given the terms of the offer, and he positioned it as a reward to shareholders.

Initially I thought it was just the usual merchant banking and that he was insulting my intelligence, but after some further consideration I don't see why you wouldn't take up the offer. Only a couple of people seem to have actually read the fine print yet. The terms of the offer are worth a 2nd read...I wouldn't be surprised if AB and others even took up their entitlements on this one.

The other possibility is that we get some news prior to the closing date, but even without it we'll be buying in at a nice discount.

We've basically got 2 threads of different news running parallel at the moment: 1- Jabiru launch(which they seem to be favouring) and 2 - financial results. I've been more interested in positive EBITDA because I have a low tolerance for non-tangible news and plans. Lets see what they've been able to cook up. It shouldn't be long now. We might even get a statement on interim results next week at some stage.