Ann: Pause in Trading, page-37

fair point and i agree.

my comment about cap raise was a bit flippant and i could have expanded. they cut dividend and have been preaching about wanting to self fund mcphillamies.

if they do self fund, i hope they dont follow the path of other companies (cough evn recently) and do so at a deep discount to institutions.

if there is to be a cap raise with a discount it should be to existing shareholders primarily and not a mechanism to give institutions buy in at a discount at expense of diluting existing shareholders