suspension from official quotation, page-3

Spoke to the company yesterday who suggested the capital raising was all but complete and that there would be an announcement either that afternoon or this morning and that the company would therefore come out of suspension either today or the first business day after Christmas. I hope Patersons is not involved this time around!

They could not give me any details regarding the current raising, but did confirm that they had around 15% take up of the rights issue at 12cents (promising I guess?). Maybe this demand might spill over and back into the market? However, I forgot to ask if all the directors had taken up all of their entitlements (which could also explain the demand - HaHa).

For those who purchased rights on the market, it looks like the ASX expects that the company to treat the rights like an option to buy shares at 12cents. The company did not know how long this option is required to remain open and was going to email with the details.

Cheers

Gus