Thanks Fellowes111.For ease I'll work this out now based on...

Thanks Fellowes111.

For ease I'll work this out now based on someone holding just 1,700,000 shares worth 1.3 cents at the time the company was suspended in 2008. That would be worth $15,100

Today that shareholder would own 100,000 shares which closed at 11 cents, so worth $11,000.

If the shareholder took up the entitlements issue at 1 cent of 1 option for 2 shares held, strike price 20c, for shareholders at the record date of 28 June 2010, that would be an outlay of $500 to obtain 50,000 options. They closed today at 3.4 cents. So worth $1,700.

Not sure about what you wrote about the placement of shares - I don't think you mentioned whether it was an entitlement issue or a placement to sophisticated investors.

Having a look at the above and using the price of 1.3 cents pre 2008 suspension, shareholders have probably come out of this not too badly imo.