Ann: Renounceable Rights Issue Update and New Prospectus, page-85

Chris Carter said

"On another note, I cannot understand how the Directors said ok to the Bergen
subscription deal.

Two possible scenarios:

1) Company is desperate for cash OR
2) Company is confident of near term share price appreciation. Should scenario 2 play out, the Bergen deal will look pretty good."


I am confident that (1) is the correct choice.
Bills to pay, staff to pay and no one else would lend them any money!
I will probably support the issue but not to my full entitlement.
Why?. Bergen have a history with another company which used Bergen in a time of capital inadequacy. Each month the price was manipulated downwards ahead of Bergen making their next purchase. I can see the possibility of this happening for HAV, at least until something positive makes the price move independently.

GLTAH., especially those who have been here since the Float some 15 years ago.