Madamswer,"(Maybe they are building up a war chest to build yet...

Madamswer,

"(Maybe they are building up a war chest to build yet another factory)." ... It's nice to see you speculating - for once.

"I'm often a bit dim, but I don't get why they did." .... Yes, you are. But not often. Just kidding.

"They conserved some $31m in capital by underwriting the dividends - which was self-evidently quite unnecessary - at the cost of the issue of around 1 million additional shares, equity capital which now has to be serviced to perpetuity." ... Here the compass needle points towards Ms. Phin of the BOD. According to Commsec Ms. Phin is "... Corporate advisor on capital markets, capital management and funding strategies."

Service of the additional 1m shares would not need necessarily be service in perpetuity - they could do a buy back. - Not realistic though; why doing it in the first place? ... and more money to advisors. I felt, it was a sneaky way of CR calling it underwriting dividends. Then I could not see why just 1m out of 79m shares issued (1/79th of issued capital)?

I am also a bit dim, and the older I get the more I know that I don't know. Haha

BTW, I always enjoy your postings.