spp on the cards

stephen mayne seems to think so.
he sent ten an email requesting an spp as follows

"Subject: time to resurrect the SPP

Gday Top Tenners,

Well done on managing Canwest out. Now there is no reason to delay the retail SPP after the selective placement in August.

It doesn't need to be the full $15,000 if you're worried about raising too much new capital or diluting all your new institutional investors. Just a minimum of $5000 at $1.15 would do the job and a cap of $50 million would be appropriate given the amount you raised from institutions.

No need to reply just feeding this into your decision making process and looking forward to the announcement ahead of the AGM.

Regards, Stephen Mayne"

he owns about $500 worth of every share so this could be just him trying to make money.

as far as I can see this is a dying industry so I can't see any reason to raise money


debt to equity is about 75%

so debt appears to be a little out of wack. can you think of anything else?