esg will not go cheaply, page-19

Thinking about our "new" shareholders and what they might be expecting by way of a return ... I looked back at the last placement. That was 12 March 2009 at 55 cents. Given we had a good market run thereafter .. but nevertheless these investors had a potential 105% return when ESG went to $1.16 in August 2009. That's what they are after again IMHO!

By contrast we poor old shareholders took a SPP last year at 85 and the best we could have done was around a 25% return at the $1.04 high thereafter. I can see why companies do placements! Good for placementees ... and shareholderss ..LOL!

H