Ann: Trading Halt, page-97

Nah, I reckon Shaws had the right of it saying "the sell down was overdone on minor issues" in the sense that all the issues are fixable and it's hard to see any fatal flaws with the deposit. Simply very poorly designed/built/operated etc. My cynical view is this sort of CR takes a bit of time to work through and get brokers on board for the size/price of issue (behind chinese walls of course). By the time the CR is announced it's all been agreed in principle, providing the company with confidence to jump and the lead brokers already lined up.

I reckon both STA and the brokers know 18c is a cheap and relatively low risk re-load. Why would STA pay extra for an unwritten CR (because underwriters pick up an underwiring fee, never get something for nothing) when they are confident the brokers will be oversubscribed? Look at the way an initial $30M CR as reported by the AFR Friday is now $35M and the SPP is capped at $30k per holder... that indicates very strong interest over the weekend to me.

Mark my words, this has been driven down for a cheap CR, so cheap I bet the directors even take up a good lick themselves!

GLTAH