Ann: Establishment of Multicurrency Debt Issuance, page-37

re: Ann: Establishment of Multicurrency Debt ... Just in response to Valuesnatcher's post to defend management here

1. They raised equity from instotutional investors at $4.60
which is the same price that they offered the SPP to us little guys, I can point you to a number of companies that don't even bother offerring a SPP to the small guys you can sit back and be diluted.

2. The gem model of raising equity to fund acquisitions has been going on for over 18 months now and there is always volatility around Cap raisings as the shares come on market.

3. Its an SPP... no one is forcing any body to take up the offer, if you took up the offer before the share price fell below 4.60 thats just bad luck, I'm sure management didnt want they share price to fall below $4.60 because thats less equity for them to raise. If you buy shares on market and they fall the next day you cant blame manegement for that. It's the same thing.

4. They extended the offer until the end of May, in the short term who knows what is going to happen to the share price, if it doesn't go back up then you don't have to buy on the SPP, simple as that.