Ann: NZX Corporate Action Notice, page-15

Well I applied for all I could get - bought a bunch more on the last day cum entitlement (already had some from earlier when speculating on them having an unpopular discounted crap raise - didn't expect an open door offer). So I applied for double my entitlement. See what happens. This is a shocker, but not if you were mostly on the sidelines, where it is quite a spectacular discount. Especially if you can afford and get quite a few additionals.

Will keep them for at least four or five years or until we get a few years of perfect conditions. Usually you don't get another la Nina for 7 years or so, and we have had two in a row (could we have a third?), so we should have cooler conditions coming and gradually start making some money. Happy to kick in the for the deeper water project if it gets approved.