re: Ann: Request from members to hold a gener... "But there...

re: Ann: Request from members to hold a gener... "But there comment to me was they are not attributing any value to them" [ie the losses]

Then they should be prepared for the proposal to be voted down if the new investors are not coming in at a premium. There will be enough current holders to turn this back I expect.

I would prefer to see the capital held in the short term while the deal is proposed, then if a premium can be agreed and new investors have to pay (say) 20 cents per new unit, then giving the existing holders an out at NAV of 16.7-16.8 I think is fair enough if they want it and giving them the choice to stay at 16.7 is also fair enough. As long as the new capital don't completely swamp the existing holders as you point out, although a premium should negate that to some respect.

Keep on posting if you have any developments.