do another announcement, page-4

I for one would be dissappointed to see another share placement for the purpose of another takeover. I think it's time the company took a bit of a break from takeovers that it cannot finance from its cashflow. It needs to prove that integration of the previous takeovers is progressing well i.e. they need to start showing growing profits before contemplating going back to the market for more funds.

Assuming that a T/O is not being planned then I would expect at least half of the $30m for the new ship to come from cashflow and the other half from debt.