Ann: Change in substantial holding, page-14

I agree Fn, in part. But that's on todays scenario.

As soon as they (penod's) can trade then I'd suggest they'll find their place at .005c to correct the arb from those buying cheap 1.7-1.9c shares now and then waiting for the penod's to list and picking up them for cheap.

That is to say...the rights shares (2c and the free penod) will/should win the day and show value...but I think (the arb/good trade) presently for those without any shareholdings at all in PEN (but smart, new entrants) is in the cheap buying at 1.7c and I'll hold on 1.8c.

I also think there's one other trade...but I won't say yet, as I haven't finished.

It's all mechanical up until then.

Like I have said, elegant. This strips those 'despondants'out there to gift their rights up.

So all are aware though...you're rights are worth something (but you'll only find out later when you've given them up)...As such, if you know anyone - I think HS has posted that he will buy them from you so you can contact him on this thread.

I have just found a 2 contacts that are prepared to accept my fee for them.

Good luck punters.

Cheers