technicals, page-14

>>The Directors of ECT have agreed in-principle with Monash Capital to make a placement of 300
million fully paid ordinary shares (ESI) and 300 million listed options (ESIO) exercisable at 2.0¢ on
or before 16 January 2014 for consideration of $4.0 million. ECT will seek shareholder approval
for this placement at a general meeting of shareholders, which is expected to be convened late
April / early May 2012.<<


Is this approved is it? As a shareholder I would not wish to 'give away' the shares at this price. Monash Capital are getting a HUGE discount to current SP. Yes I appreciate they should get a discount but 3 mil standard + 3 mil oppies all for 4 mil bucks. Hey... this is a rip off to shareholder. Granted we were half a cent not long ago, yet this offer put in when SP far above. Better negiators needed in this Coy IMO.

Regardless it been a good earner for 2012 to date. Big turnaround from sitting waaay below 1c for so long.