Ann: Share Purchase Plan , page-44

Given market conditions and general sentiment for CTO, SPP @ 12c wont fly....
In my opinion, (and i am no expert on this) significant mistake by the management if they price the SPP @ 12c...announcing the SPP tanked Market Value....minimal SPP participation will be catastrophic for the share price...

Considering all available information....SPP has to be 10c or sub...which will lead to significant dilution....

And also this will limit avenue for further SPP once the cash runs out....

All in all I think this is a classic example of a company with quality assets (if they say what they have in the Ground is correct) not managed properly to push shareholder wealth maximisation...

I do not think there is a way out...except for someone to buy this out...in which case existing shareholder will lose out because it will be a distress sale....

Cut your losses....come tax time....some measly tax rebate due to income/capital losses will possibly help :)

I still wish that all shareholders and the company does well....but fail to see how