Ann: ECF Entitlement Offer Booklet, page-5

Cannot see the price drop to the 40c to 50c range unless "forced down". The Lederer group , at 7.5 c distribution per share is achieving 12.5% yield net!! that's a 8 years payback . Before capitalization.
The capital raising will stabilise the balance sheet and reduce the gearing level. While maintaining a 98% occupancy rate at the bottom of the cycle.
At a 12.5% yield with potential of capital growth down the track. More chance of buyers than sellers at nta of 77 cents the distribution yield is still high at 9.7% still better than what i earn "net" on my properties.
good luck