Ann: Trading Halt-BRB.AX, page-20

a cr can cut both ways - if indeed it is a ratio for existing holders eg. 1 for 5 with attached options etc etc.

then profit takers just plain miss out.

if you have zero stock - then you get 1 for 5 of zero.

Of course if it's institutional only and someone got out at a price and the price goes below that - then, yes, they can profit.

In the recent S2R - that move got you done like a dinner.


the mistake to make with CR's is to see them generally as a bad thing ----------- the reality is - many times - certainly in good companies or companies that have good projects - then CR's are a very good thing.


Pinto