Ann: Strong Progress & Economics at Wilcherry Hil, page-36

re: Ann: Strong Progress & Economics at Wilch... hi sir,

x rights date 16/10/13
record date 22/10/13

therefore, you are entitled to sell your existing holding and take up your rights no probs but remember the offer is only ONE new share plus 'half an option' for every TEN existing you hold.

by selling the same number of your existing holding and taking up your rights with the same amount then you should on balance be in front if the options have value before expiry in 2015.

however, if you do not wish to dilute your investment and can afford to take up all your entitlement then give it serious consideration.

I am not one for backing rights issues under normal circumstances but this is not normal. the tie to ife is considerable and must be looked at sensibly. however, shares, can and do, go down as well as up and left field events do occur, so as always there is risk in the mkt place.

control the downside and play the upside. I think this is where we are here. (aimho of course, just to keep me out of jail !)

hope I have not muddied the waters lol.

go for it, take up and sell nought.

40.