Ann: Verus Announces Share Purchase Plan , page-17

budgie, correct. have a tough time seeing why people would sign up for the 2.2c. have a tough time seeing why they even need to do this right now. yes 85% VWAP is lower than 2.2c at the moment but they aren't getting the funds for another few weeks. with the spud of bongo and potential flow rates coming are they really thinking that the SP isn't going to get any better for the rest of the month. if there truly is something down the Bongo hole, raise capital then as the SP will no doubt be higher.

like just about every non-insider i was shocked when i saw this announcement. i really couldn't fault them too much up til now. respect and confidence in them will be shattered. for their reputations sake, they had better hope that FP delivers...

as they say, always give the bad news on a friday so everyone has the weekend to calm down a bit. so sad they couldn't even get the correct day of the week!

yes, they will be getting a ridiculous amount of calls on monday.

however, to a point on SPPs. I particpated in an FML SPP at 2c last year. The stock then quadrupled in the next 6 months, so they aren't all bad. an SPP to expand is far better than an SPP to just stay afloat.

all part of the roller coaster ride that is the speccie!