Slick - I was totally misguided (and quite embarrassed) in...

Slick - I was totally misguided (and quite embarrassed) in responding to one of your (balanced) comments some time back - so I choose my words carefully here.

I'm just not sure this is a fair summary of the situation. RAC had no control over when they released the heart protection findings, that's the nature of continuous disclosure on the ASX. It was this announcement that made the SP jump, and if the discount looks big, surely that's the reason. Assuming the CR was weeks in the making, it was just unfortunate timing in my view.

And as others have mentioned, I don't think a raise that disadvantages the major and insto share holders, and one that was transparently articulated, can be a bad thing for small holders.

Some might have taken advantage to sell/ buy based on the discount, but with CGT, I'm guessing many didn't.

I guess time will tell if this was a good CR, but either way, and like the options offer earlier this year, I genuinely think this came from a good and honest place.

No-one at RAC has IMO shown any signs of anything but fairness and consideration for all holders.

That might just be naive or rose tinted, but you've got to call it as you see it.