capital raising, page-2

might be an idea to kiss this one goodbye
no point throwing good money after bad

this put option has got me baffled

"Highpoint put option
�� The owners of the Highpoint Shopping Centre have the right to put the balance of their 50% interest, or a part
thereof (but not less than 8.33%), exercisable during a 30 day window each year commencing on 1 July. The interest
would be sold to GWSCF at market price at the time (book value of approximately $600 million, 50% interest). If the
put is to be exercised, three months notice must be provided. If GWSCF does not acquire the interest and another
person is not nominated to acquire it, GPT is required to do so. This put option expires in 2016
�� If the put option is exercised in 2009, and GWSCF does not acquire the interest and another person is not
nominated to acquire it, then GPT would be required to do so. The board of the responsible entity of GWSCF would
determine whether GWSCF acquires an interest in Highpoint Shopping Centre under the put option. The board of
the responsible entity of GWSCF is independent from the board of GPT
�� In March 2009, the co-owners of the Highpoint Shopping Centre gave GWSCF a notice of intent to put one third of
its 50% interest (16.67% of the asset, book value of approximately $200 million at 31 December 2008) to GWSCF in
2009
�� If the co-owners put the remainder of the Highpoint Shopping Centre to GPT in 2010 and GWSCF elect not to
acquire it, GPT may be required to acquire the interest for $400 million (the final amount is subject to "