The Multi Billion Dollar Remittance market in India, page-89

I read it but dont see it as a big problem. The company has about 1.8 billion shares on issue, if they increase it by 10% they will be adding 180 million shares to the company, taking us to just below 2 billion shares, and whilst yes I am against capital raising, the reality is in the context of what is currently on issue, adding 180 million shares isnt going to massively dilute the share base, whilst providing enough revenue to fully implement any deal with Salt Technology.

Someone said we are doomed if the management do this, I dont agree, even if a cap raise happens will be just under 2 billion shares, at some stage we may see a big consolidation anyway, and if that happens say for example a 10 to 1 consolidation, 2 billion shares would suddenly only be 200 million shares.

So taking into account the benefits and the disadvantages, I dont see a 180 million share cap raising as a big problem at all, whilst giving TSN the firepower to fully implement the Salt Platform. What we need to hope for is that the price is much much higher so if there is a cap raise the company raises more capital than what it would raise at current levels.

Just my opinion.