Ann: Equity raising presentation, page-4

The "discount" is kind of arbitrary, wouldn't you say? Ultimately the participants are contributing X capital. That capital will generate Y return (hopefully). If the price was higher, participants would have fewer shares, but would still be contributing X.

What it does mean, however, is that a shareholder NOT participating gets a higher dilution penalty. But I suspect that the very reason to be on this bus is for the participation option (unless you happen to be a key early shareholder, in which case the bus ride has already been a very long and prosperous one).

Lets hope the chorus of dissenting voices, including from a certain MP, don't do permanent damage to the bus. Some comment from the company, in this regard, might be comforting.