IMO SP will be under pressure for the next several weeks.Aside...

IMO SP will be under pressure for the next several weeks.

Aside from the insto conspiracy theories there are two other reasons:

1) Before the closing date, many retail shareholders could sell existing holdings at SP above 40c to participate in the entitlement offer at 40c. Because this is such a large cap raising it could otherwise be difficult for retail investors to raise cash to participate.

2) After the closing date, some insto participants (and retail investors) could crystalise ST profits if SP is above 40c.

LT, I think company is sound and SP will rise. Note latest Aspect Huntley research with pro-forma fair value per share at 70c, and NTA $1.20.

Lots of room for upside apprecaition in SP from current levels.

Also I see that CMW has provided a market update regarding the Energex Building on the 1/7/09. They say that this is expected to settle on the 10/7/09 ---> good for FKP.

Cheers
John