re: 60% discount on share purchase plan hi freakmemy mistake in...

re: 60% discount on share purchase plan hi freakme

my mistake in the wording..

1:4 non-renounceable rights issue at 0.008c.

so if you have one million shares, you'd be entitled to 250K at .008cents=$2,000..

if you had 100,000shares you'd be entitled to 25K at.008cents..

no doubt those who bought in the low 1's would be happy...

i've had a ????? about the flow rates for sometime, at this point it's a little concerning..

IMO 2cents is a little high until they annouce some details..i'd be hesitant buying at 2cents.

but the market is a strange place..

regards

Subject re: 60% discount on share purchase plan
Posted 26/04/06 12:57:14 PM - 44 reads
Posted by freakme
IP 202.7.xxx.xxx
Post #1026687 - in reply to msg. #1026633 - splitview


Sandy,

From my understanding, its not a SPP. It is a 1:4 non-renounceable rights issue at 0.008c. Therefore you need to purchase $20k worth of stock to get $5k at 0.008c.

Is my understanding correct? Your clarification is needed.

Cheers Freakme