Ann: Share Placement significantly Oversubscribed-PHK.AX, page-30

Hi Chand,
I tend to agree that the SPP may not be fully subscribed, but at least then we'll get our full allocation. I guess with the price at 7.3 cents that's not worth getting too excited about though. I don't really see those who took up the offer, or participated in the placement, selling below 7 cents. Even without the proceeds from the SPP the balance sheet is looking better than it has in years, and then there's the potential earnings from China with our new partner.