better than expected results?, page-3

There would appear to be absolutely no requirement for another share placement and it states clearly that this is purely administrative as such, to re-new the ability if required.

That said no retail investor can trust anything from Oz REIT management. They have lied and denied their through placements over the last 12 months while at the same time informing the investment banks who have duely shorted and sold the hell out of them prior to each placement for huge trading gains. This game has in fact been the life blood of the investment banks and the only real source of rpofits in a crap capital market. Thus regardless of what IOF say today the whole sell down these last few weeks smacks of more insto's getting set for more cheap issue dilution for their profits at shareholders expense.

The most rediculous comments on todays report under the 15% placement renewal section was that it may be required for "any future opportunities"! I mean really, management keep talking about opportunistic and accretive acquisitions of distressed assets when they are patently the ones that are distressed. Another large placement would further devestate the share price but line the pockets of instos getting short or selling down beforehand for a fat profit. There is absolutely no requirement for such EXCEPT that it secures the assets under management for ING to keep gouging large annual fees and bonuses regardless of share price performance.

Clearly asset sales ONLY are in the shareholders best interests given the rediculous discount to NTA backing but unfortunately the people running these REIT's are running them for fees not the shareholders best interests.

I bought some this morning because they look damn cheap with a relatively good balance sheet and finance due 2012 in spite of sector difficulty. Still that doesn't make me confident and I feel for those stranded at higher prices.

goodluck