Ann: Quarterly Activities and Cashflow Report , page-32

JD,

Re timing: the longer CCU waits before announcing the capital raising, the more chance the SP will drift down or need supporting. Also, the $3m is due to Magna by 31/Dec, so the capital raising has to be complete prior to Xmas. For these reasons I think they need to do it as soon as possible.

Re amount: I'm sure they will go for the full 25%. If previous issues are a guide, this will need to be done at a 30-40% discount to the prevailing SP, hence 6-7c.

BTW, as bad as this seems, I think its the best deal for shareholders. If I was Magna, I'd be putting CCU into Admin on 1-Jan, and then doing a deal with the CBA to repay its debt and take full ownership of CCU.

As I've said before, as the only supporter of CCU, Magna could (should?) leverage its position. Its management is either very kind, or not so smart ....

All of this is pure speculation.

GLTA.