Ann: Letter to Shareholders-KBL.AX, page-24

I think you missed the point, I said an all scrip bid which would enable shareholders to continue to participate but in the process wipe out ~13m in bond holder debt. Having said that...I don't see a long line of cashed up companies clambering for this "phenomenal, underpriced well engineered, cash cow"
I'm going to go to go out on a limb here and say that in the absence of ensuring no further massive dilution by way of extinguishing the bondholders debt then anyone putting money in now is foolish