Reasons for capital raising to Fund Project Development, page-2

FWIW - i also believe most of todays selling was from offshore holders outside NZ and Australia who cant participate in Right issue - which makes up for  a small percentage of shares as per the statement below and reckon we may see bounce tomorrow now that they out  - cheers G101

New Talisman has decided that the SPP is not able to be made to shareholders who are resident in other countries so as to avoid breaching laws in the relevant jurisdictions. New Talisman, in making this decision, has taken into account the small number of overseas shareholdings of holders not resident in New Zealand or Australia.