big thumbs down, page-14

Not surprising the price movement given they are doing a retail offer, unlike instos retail SHs often need to fund purchases by dumping existing stock first.

Dissapointing thing is that they have didnt say how much they are going to raise. You were in suspension why not come out of the trading halt knowing how much you are going to raise????

Presumably abiding by the 15% rule for raising capital w/o sh approval- so $104m in contributed equity at 30/12/2011 means up to $15.6m can be raised. Insto $10m raise so only an additonal $5.6m to be raised under the SPP?

Apparently the Listing rules for companies outside of the ASX300 allows an additional 10% to be raised if approved by ordinary resolution- dont think they can go down this avenue.

So those dumping to buy back in the SPP should be wary given the company has not provided sufficient detail but the raising could be not as large as you think.

Am i missing something?