Ann: Results of Annual General Meeting, page-10

"@madamswer thank you for the post. How do we know that there will be no more CRs. There is always a possibility they can keep doing CR at much lower issue price as I have seen many companies doing?"

@Wide eye,

Because the recent capital raising showed that the equity market door was already close to shutting on the company.

Look at how steep the offer price discount was and how the stock traded after the stock went ex-the entitlement date... it crashed not only right through TERP, but even through the offer price, if I recall.

So the directors and the company's corporate finance advisors will know that the equity market window has effectively closed to SP3.

In the event that it becomes evident that they aren't going to reach the point of surplus capital generation - which we will be able to observe probably by late April next year, after the next two 4C's get released - they'll get the message very clearly [*] that the sole remaining path for shareholder value restoration will be to mandate a merchant bank to find a buyer for the company.

[*] From both shareholders directly, as well as the share price, which will be even lower than it is today.

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