Ann: Completion of Retail Entitlement Offer, page-16

My average price for the original 400,000 was around 27c. So the tax man would have done me over if I sold some to acquire the full amount of my entitlement.

But normally you've got a few shares that are underwater, or underperforming, that you can sell off, get a tax loss, and get enough dosh to do the business anyway. (You can always buy them back later if you think they have a future).

I usually have about 17 different shares and, more often than not, cull something (or reduce the number of one or more) when buying new shares.

As re PGC, I'm hoping it will be a long term, fully franked, dividend paying investment that will increase in value as time goes by. So an extra 100,000 is worth the effort. Just my opinion.

Donos