further suspension, page-10

yes Jeff I agree, renegotiation is a KEY word in that announcement!

If the cap raising was supposed to completely wipe out debt then why would NMS need to re-negotiate the financing facilities?

1. They have been reading hotcopper and they are worried about a revolt and have decided to scale back the cap raising. This I think is highly unlikely ;)

2. What they can raise without shareholder approval is not really enough to keep the bank happy, and they are worried that the shareholders will not support the massive dilution required to raise enough money to make the bank happy.

3. The people that were going to participate in the cap raising have pulled the plug, and they need to convince the bank that they have a strategy going forward that will stop them from ending up in administration.

4. They realised that a 60% discount to the current sp was a little bit much and have decided they better put some more thought into it.

5. There is a division in the board (maybe some have a conscience?) and they can't reach an agreement on what it is that they need to do to get them out of the mess that they find themselves in.

6. none of the above, stop speculating as it won't do anyone any good ;)

Tony.