Ann: Capital Raising , page-8

hi ormond,

Last year I remember FGE when they ended up giving CLO a bargain . I understood that to be a synergistic deal, although I am not sure if any synnergies have actually materialised from that. As long as VOC uses the capital raised to significantly increase returns then it should not be too bad. On the surface, retail holders have a bad deal, but the future returns may make it more bearable.
The thing i am hung up on at the moment is the NPAT for 2011. The forecast states ( by microequities) 8 million. If they achieve that, they are on a ROE of around 50%. Do you belive that this number is achievable or far fetched?? Has VOC stated their forecast?? (HY NPAT was 3.6 mill).