Hey man, NTL shareholders who bought last Friday at the latest...

Hey man,

NTL shareholders who bought last Friday at the latest were allocated 3 rights for every 1 share they held.

The two rights codes are:

NTLRB.ASX; and
NTLRD.NZX.

These are the publicly tradeable rights. If you buy them on market at 0.1 cents then you have to pay the exercise price of 0.5 cents. Therefore the total is 0.6 cents. 0.1 goes to the rightsholder, 0.5 cents goes to NTL.

I will not be selling any of my rights. I will be exercising all of my rights and applying for shortfall allocation. This means all the money goes to the company.

I do not think the company will allocate all of the rights, I am hoping for about a 1/3 uptake ($3-4m cash) which will mean the stock isn't diluted too much but will have optimum cash on hand to forge forward into production.