Ann: Corporate Update, page-12

All the board will need to commit to taking up their entitlements for the CR to have any traction.

This is sort of like the last roll of the dice - a time when you can pick up a lot of shares for very little money - maybe.
I wonder how much per share it will be.
The excise of the options will be dirt cheap
A lot of money can be made in this situation

I did participate in the issue last June and bought more options in Sept - so not that pleased with management.

one of the possible outcomes from this is that it succeeds [and yes there are other possible outcomes] and on the basis that it does succeed then it provides scope to shareholders who have paid quite a lot for their shares, to fully participate in the issue and sell their expensive shares for a loss come May/June, but still retain a position.

having the opportunity to sell the shares for a loss is actually a means to realise that asset [the loss] whereas if company liquidated it could take a few years before the loss can be realised and claimed as a tax deduction - that is how I see it but I am no tax accountant so each to their own


if Chimeara do not participate then they face massive dilution, so I suspect they will participate