Ann: Proposed issue of securities - NAM, page-6

for incumbents to get their way the STAM rep would not join the board (look at previous correspondence on the issue - board came out swinging).

also the offer would be a placement (with STAM diluted) not a rights issue. STAM very happy to invest incremental cash (relatively small bikkies for them) and increase control.

I will be interested in the top 5 holders post the rights issue. this is a perfect time to build a stake.