Yep, thanks NN...hope Watford picks up this thread.Sep 09 has...

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    Yep, thanks NN...hope Watford picks up this thread.

    Sep 09 has got to see a massive dilution of ord shares though hasn't it? As many as an additional 160,000,000 by my calcs.

    But there is the saving of 6.5% on the pref shares thereafter.
 
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