.222890 hardman shares, page-13

re: .222890 hardman shares dilution factor Capman,

Why would there be a dilution to start with, as they are not really making an issue (placement) as such?

When HDR put out a placement of 10% shares, they had no additional assets but 10% more shares, hence the dilution.

In TLW's case, they will have more shares certainly, but they are getting more assets ie HDR. In fact it could be arued that their share price should go up, cause they are getting more than they are paying for ie a BL%^dy bargain in HDR.

Any comments from anyone else?