Beachman - interesting comments. As I rewmember it, Mulpha the...

Beachman - interesting comments. As I rewmember it, Mulpha the largest shareholder has underwritten this spp. So creating confusing price signals and discouraging retail investors to take up their rights is in their interest. When spp closes they can then pick up a BIG slab of shares and increase their holding and be good fellows about it!

It is possible that Mulpha and Stockland between them could take control of this company with over 50% of shareholding in the very near future - then they can do what they like.

Mulpha being on the Board would have had considerable input into how this spp was structured. An assett rich company at a small fraction of its book value. It would not surprise me if they have not had a hand in driving price down. After all as a buyer, a cheap share price in in their favour ... and it is the assetts they are after. To us share price is the goal. To them owning assets is the goal.