Beave I don't mind dilution if it is after big dent in...

Beave

I don't mind dilution if it is after big dent in borrowing, if placings are to LT institutions , or placings at launch on ftse.

lower gearing and a 2 figure PE multiple ?

The forward PER appears to be less than one - so -say 50% dilution followed by an actual PE of, say, 10 gives you 500% from here.

So dilution later, rather than sooner , is just fine . ( unless you want $8 I suppose)

Mel