capital raised at $27, page-22

pwallace,

yeah thats what i was getting at,

i should revise, insomuch as when the rec date is.

Its all about those dates.

Point being, that while you can get a higher price for them, sell them, but retain 1 share, so that you are still a shareholder within the correct times.

So you can then use those dollars to buy more shares cheaper.

As for those of us, who did not hold before they went ex entitlement, its about geting a cheap entry.

But heres the other thing to keep in mind,

Reading in the AFR they have had a large cut in their 09 earnings, which might dampen the outlook.

One thing is for certain, with the earnings downgrade, and this SPP, they will go down on Tuesday.

I'm not sure whether the downgrade, will push them under the 26-27 level.

"net profit dropped more than half to 871 mill"
"writedowns exceeded their 2.0 bill forecasts coming in at 2.5 bill"

might be worth holding those buy orders off, until the market establishes the uptrend.

It may shrug it off, and say that 26 is punishment enough, which i would suspect, given the exrta cash flow in from the raisings.

If the core business confidecne is not dented in perception, it would resume an uptrend.

Thats the real bottom line here, what the market makes of it.

cheers