article this am in smh re capital raise valad, page-11

I have thought that for months as well. Although I thought the share price may have risen somewhat since then. The only thing McCabe can do is use the liability owned to him to take over the European part of the company which is his best bet.

The half yearly results mentioned they split the banking syndicate between the Asian/Aust. and European so this would now be so much simpler. McCabe could then recap the company with his spare cash he got from the origianl sale.

This is what Packer did to Bondy...sell at the top, take at the bottom.....