Ann: Proposed issue of Securities - SAS, page-7

Rough calc

2,500,000,000 on issue now.

New issue of 11,000,000 ordinaries will be 'not less that 14.7% of issued capital, lets say 16.66% for ease of maths.

Divid 2,500,000,000 existing shares by 50 i.e. 1:50 consolidation = 50,000,000 + 11,000,000 = 66,000,000

16.66% of 66,000,000 = approx 11,000,000

So I'm picking approx 1:50 consolidation before issue of new shares to virgin.

so 1000 shares @ 2.8c = $28 becomes 1000 / 50 = 20 shares x 20c = $4 so approx lose 7x the value of your existing holding = present share worth approx 2.8c / 7 = 0.4c

Enjoy - better than nothing
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