todays the day, page-51

Err. You're saying retail holders as a group weren't diluted? Do the math by comparing the size of the insto raise vs the (even increased) retail offer. You assume its only small retail holders complaining: after speaking with NABs investor relations i can assure you they've copped it from across the retail spectrum. Anyway my point was to suggest those who are unhappy with NABs retail raise should do something about it directly rather than just leave it for HC discussions. Btw with +26K NABs prior to the raise we rec'd our full application.