(b) Net increase or decrease in the number or principal amount of securities, and in the eligible institutional investor's securityholding percentage in the class of securities, since the last report filed by the eligible institutional investor under Part 4 or the early warning requirements: Since the last report filed by Ospraie under Part 4 for the Issuer, there is a net decrease in Ospraie’s holdings of 1,295,942 common shares (“Shares”) of the Issuer representing a net decrease of 0.73% in Ospraie’s securityholding percentage for that class of the Issuer’s securities. In addition, Ospraie Select Long Equity has reduced its interest in return swap agreements in respect of 99,110 Shares of the Issuer and Ospraie Portfolio has reduced its interest in return swap agreements in respect of 25,890 Shares of the Issuer. In total, Ospraie has entered into return swap agreements for a total of 4,661,133 Shares (the “Return Swaps”). The Return Swaps do not give Ospraie any voting or equity rights in respect of the underlying Shares and therefore have not been included in calculating Ospraie’s beneficial holdings and securityholding percentage for that class of the Issuer’s securities. (c) Designation and number or principal amount of securities and the eligible institutional investor's securityholding percentage in the class of securities at the end of the month for which the report is made: Ospraie holds 15,143,119 Shares of the Issuer, 15,500 warrants (“Warrants”) of the Issuer and AUD$66,744,600 principal amount of convertible notes (the “Convertible Notes”) (collectively, the “Securities”). The Securities represent approximately 17.8% of the issued and outstanding - 2 - Shares of the Issuer on a partially diluted basis (assuming exercise in full of all convertible securities of the Issuer held by Ospraie) (“Partially Diluted Basis”). In addition, Ospraie entered into the Return Swaps. (d) Designation and number or principal amount of securities and the percentage of outstanding securities referred to in paragraph (c) (above) over which: (i) the eligible institutional investor, either alone or together with any joint actors, has ownership and control: Ospraie Portfolio, who may be considered a joint actor with Ospraie Special Opportunities and Ospraie Select Long Equity, owns 7,420,815 Shares, 7,750 Warrants and AUD$33,372,300 principal amount of Convertible Notes, representing approximately 9.2% of the issued and outstanding Shares on a Partially-Diluted Basis. Ospraie Special Opportunities, who may be considered a joint actor with Ospraie Portfolio and Ospraie Select Long Equity, owns 7,322,304 Shares, 7,750 Warrants and AUD$33,372,300 principal amount of Convertible Notes representing approximately 9.2% of the issued and outstanding Shares on a Partially Diluted Basis. Ospraie Select Long Equity, who may be considered a joint actor with Ospraie Portfolio and Ospraie Special Opportunities, owns 400,000 Shares representing approximately 0.3% of the issued and outstanding Shares of the Issuer. In addition, Ospraie Select Long Equity entered into the Return Swaps in respect of 4,661,133 Shares of the Issuer. (ii) the eligible institutional investor, either alone or together with any joint actors, has ownership but control is held by other entities other than the eligible institutional investor or any joint actor: Not applicable. (iii) the eligible institutional investor, either alone or together with any joint actors, has exclusive or shared control but does not have ownership: Not applicable. (e) Purpose of the eligible institutional investor and any joint actors in acquiring or disposing of ownership of, or control over, the securities, including any future intention to acquire ownership of, or control over, additional securities of the reporting issuer: Ospraie disposed of the Securities and reduced its interest in the Return Swaps for investment purposes only and not with the purpose of influencing the control or direction of the Issuer. Ospraie may in the future, subject to market conditions, make additional investments in or dispositions of the Issuer’s securities. However, at this time, Ospraie does not intend to if you need more informationhttp://www.sedar.com/GetFile.do?lang=EN&docClass=13&issuerNo=00025328&fileName=/csfsprod/data93/filings/01340728/00000001/x%3A\SEDAR\OspraieAMR\November2008\AMRNov102008.pdf
OGC Price at posting:
20.0¢ Sentiment: None Disclosure: Not Held