Ann: Security Purchase Plan, page-24

Thanks for the discussion. IMVHO the discussion is exactly the reason why the current raising is in place i.e to tide them over.

So it's a glass full/ empty scenario. You comment on when you purchased them encapsulate why one would take the latter view. I empathise with those S/H. IMVHO if they don't take up the SPP to average down I think they'll still get a good result as long as they don't sell.

The alternative would have been a rights issue. I'm pretty sure that Iggy's contact with the smaller S/H has resulted in the correct choice. (Noting SPP up to $30 K/person is unusually large). He's had to make some tough calls in the financing environment and he retains my confidence.