Ann: Retail Entitlement Offer Closes with 72% Par, page-13

re: Ann: Retail Entitlement Offer Closes with... "and I didn't want to be at the mercy of the institutions and what price they were prepared to pay in the book build"

Exactly my thoughts. We saw the institutional placement done at a discount to the market share price, so it will happen again. For those holders that did not want to apply for more shares, they should have sold to take up their entitlement. But then there is also the matter of realised capital gains to consider.

Totally agree with your comments about the transformation of the company as well as your expectations as to where the share price will be before the year is out.