G'day furso,The only reason to sell now (other than having the...

G'day furso,

The only reason to sell now (other than having the satisfaction of washing your hands of the whole sorry business) is, as apples says, to lock in a tax loss.

If you hold on and the resolutions are voted in and the SPP goes ahead as planned you will receive 4c per share in cash (you have about 12,000 of them, so about $480) from the Capital Distribution.

Because of the massive dilution resulting from the SPP and the EPS conversions your original 12,000 shares will end up effectively worthless (something in the order of $10 for the lot). They will probably get mopped up somehow in the eventual Security Consolidation.

Your other option is to participate in the SPP. Minimum parcel of $2,500 will probably get you about 5,000,000 "current" shares, prior to consolidation. Would that be p*ssing away more good money after bad? I can't decide.