Ann: Successful Completion of Retail Entitlement Offer, page-26

Selling entitlement shares with existing shares is a no win strategy.

Everyone one who needed the cash has already sold.

The increase in anyones holding as a result of this cr is 15 percent. 1.5 for 11 rights is the issue price. Free float increased 5-6 percent but SOL and Teoh proportion of shares will not change hands anytime soon.

TPG has always performed. This is the next leg of growth funding is sorted.

Debt is down this half as well significantly with cash injection plus cashflows.

F17H2 will be good.