Thought I would start a new thread as the thread regarding "huge...

Thought I would start a new thread as the thread regarding "huge take up by directors" IMHO seemed to be going of the rails.

I just like to deal with facts...and figures

As at yesterday 16/5/2013 there were 13,258 shareholders in PRR. (I rang the registry). I will assume this is the figure as of the record date.

There has been a lot of discussion about the shortfall and reference to "no confidence by shareholders", directors "not taking up more" etc etc.

Personally, I think PRR made an error in the SPP. I believe of the 13,258 shareholders, a large majority are mum and dad investors. Lets assume they all are.

At 13,258 SH's if each was to buy $500 in the SPP, PRR would have raised $6.629M which would have been over the $5m they achieved. I think, IMHO PRR erred on the starting price of $1000 for the SPP. Not many mum and dad investors would have $1000 laying around, but could probably come up with $500.

Obviously, some shareholders bought their max entitlement at $15k.

I think the starting price was too high which resulted in a smaller take up. Some die hard mum and dad investors may even have approached family, friends etc for another $500, but to ask $1000 or arrange credit for $1000 blocks may have been a limiting factor.

Food for thought and GLTA