hands up who is taking up option offer, page-10

this is it
what fine detail are you refering to ? as far as i can see, all detail was disclosed in explanatory notes accompanying notice of agm some time ago.

timetable was set out as outlined above prior to agm, at the time Co was flagging results to be due mid dec. all details f the offer werevoted by shareholders and as a result cannot be varied, ie it is not up to the management.

whether or not current oppie holders convert my understanding is that they have received significant demand for th balance of the issue, wouldnt be suprised to see it close early and oversubscribed.as you say if this is the case it should be viewed as positive.

was not trying to have to much of a go at you but yor comments seemed to imply that something untowards going on, when as far as i can see all details have been presented with plenty of notice and subsequently voted on by shareholders. it seems apparent to me that not all shareholders takethe time to carefully read all documnts released by the Co and as a result cry foul when they are suprised by something that they probably skim read over.

finally, you suggest thatthe sp will have to rise significantly in order to make conversion worthwhile, you are quite right i think that is what we are all hoping for after the release of results, otherwise why are we all here ?

cheers

BT