Ann: Share Purchase Plan Opens / Share Purchase Plan Booklet, page-23

You CANNOT lose in the SPP unless LTR later goes broke, very very very doubtful. It is either $1.80 if the current SP is higher than $1.80 at the time of the offer closing date, or if the SP is lower than $1.80, it is the SP averaged out over 5 days prior to the closing date (VWAP), less 2% as a discount. Here, I’ll dumb it down for you:

1. Buy at $1.80 if the SP is back up to say $2.50 at the time of SPP offer closing date, which would be a huge savings for holders,

or

2. If the SP is an average of say $1.60 for the 5 days prior to the SPP offer closing date, you then get them at $1.60 less a 2% discount.

Yes, if buyers want to they can also buy them now at the current SP. Except you maybe? You don’t hold LTR do you?

Another on IGNORE today. Bye