ccu=cash cow united, page-7

stfh, shimmer, 'fraid not.

The Entitlement Offer Booklet makes it clear that it will be 30% hedged (page 26), and that the share raising is a condition of the $22m debt facility being made available (page 35). The application of funds, both debt and equity, is given on page 37.

Just spoke to Trevor Shard, they expect to negotiate the 30% downwards, depending on the POS at the time of the agreement.