Ann: Becoming a substantial holder, page-14

I have mixed feelings about the AVB story, and I'll probably only be 100% satisfied when the copper' going out the gate. I'm unhappy that the debt financing- paid off within the first year, remember?- didn't come off but the company has bitten the bullet for better or worse.

But compared with the NAB CR- 25% discount to current SP- I'm really not going to complain too much.

I suppose there's a big difference between 5.5 billion and 20 million being raised but still, the AVB raise price- ok it could have been better, but gee it could have been a lot worse.