Excerpt from reply to ASX speeding ticket today:"The Company has...

Excerpt from reply to ASX speeding ticket today:

"The Company has lodged a prospectus for a 1:5 entitlement issue at 12 cents per share which goes ex-entitlement on 8 November, 2006"


Excerpt from the Prospectus announced on 3 November 2006:
"PROPOSED TIMETABLE
Lodgement of Prospectus with ASIC and ASX 3 November 2006
Record date for determining Entitlement 15 November 2006
Prospectus and Entitlement and Acceptance Form despatched to Eligible Shareholders 16 November 2006
Closing date for receipt of Acceptances and Application monies * 1 December 2006
Anticipated date for allotment and issue of New Shares * 11 December 2006"

It seems to me that, if you don’t already own any by market close today (7th), then you are not entitled to the 1:5 offer. However, if you have bought prior to the 8th and hold until the 15th you will become entitled to the offer. That is, you must be a holder for the week (8-15 November) to qualify. Is this correct? All rather confusing.

Tez
I hold DYL