re: Ann: Exciting Acquisition and Share Purch... A...

re: Ann: Exciting Acquisition and Share Purch... A SPP...fantastic news and a great result in my opinion.

As soon as I read capital raising in the previous announcement, I thought he we go, how much of a discount are the sophisticated ones going to get this time.

SPP's show that a board ARE acting in the best interests of their shareholders, offering them the first opportunity to dine at the table, rather than inviting the pigs to stick their snouts in the trough.

I also appreciate the fact that it's only available to current holders...why give non-holders the opportunity to participate when it's likely that they'll dump at the first opportunity?

The acquisition sounds good, although I'm not overly concerned whether that goes through...be nice to have a steady cash flow though, and tax-free too (for a while) thanks to the tax losses available should the acquisition proceed.

All said, PNX is still very much a spec with all the associated risks one carries...but, given the calibre of the board, the ground they hold, and the respect with which they treat their employer, the shareholder, I will be subscribing for the maximum allotment for both my holdings held under different HIN's.

Luck to all.