Ann: Update on deed of company arrangement proposals, page-55

I agree with your maths corktree. Sad isn't it..I'm of course just as badly off as are all shareholders. The only way to save one's stake is to take up your full entitlement if you are game. The one blessing in all this is that the Directors don't resume control, and it is a fair bet both Rogers and Gray will resign and we'll end up with a new Board (ASIC by the way should have insisted we had at least a Board compliant with our constitution, a year ago). Knowing the structure of the Board would be for some I would guess, a necessity prior to any outlay of capital given the antics of the past 12 months.