Thanks Bunya,Good to have some clarity on the issue. Glad it was...

Thanks Bunya,

Good to have some clarity on the issue. Glad it was "only" $60mill of shares, though 90c is quite cheap. I know that the money is needed for growth, but I still get that feeling of "darn them diluting the values of my shares!".

According to those figures, I did a quick run on them:

Share value has been diluted 32% (though we get extra capital to offset that..)

Price FY2008: 167.6c (low EPS, sector PE)
Price FY2008: 195.5c (high EPS, sector PE)*

Price FY2009: 209.4c (low EPS, sector PE)
Price FY2009: 237.4c (high EPS, sector PE)*

I think sector PE is a minimum guarantee imho, and considering it is a growth stock should have even greater PE by up to 20%. The EPS variation is relatively minimum, though hopefully with Lange we will be at his upper end of estimates.

There could be a nice christmas present.. next year.