pigs webinar, page-2

I agree austted any conversion should also incorporate a rights issue.If they are talking about the balance sheet needs repairing they need extra capital.It is no use moving the deck chairs around in the balance sheet without strengthening with extra capital.I also wonder whether some of the hybrid holders were caught up in the Babcock and Gunns Hybrid situations.I have been in the markets for many years and saw the Babcock discussions and as a policy you should never invest in something that you don't understand.I never invested in Babcock and so many were saying the hybrids were a sure bet.