trading halt, page-77

Hmmmmm. The media got the scoop from somewhere. They have sources everywhere lol.

Still trying to mull over the implications.

My observations:I could be wrong but sounds like they have already got the placement component stitched up. We will probably know tomorrow. If that is the case and if they are oversubscribed that will be a good thing. Obviously those that take it up have an expectation of a good return on their money. In terms of the spp from experience I note that when shareholders arent given the opportunity to participate they scream but when they do get the chance sometimes they baulk at stumping up. Hoping that wont be the case this time and hoping again that it will be oversubscribed.

If good news were to come out between now and the close of the spp on June24 then it would likely be well over subscribed as the share price ought to rise well above the spp price. In the unlikely event there is a shortfall, I would hope instos etc would take it up.

l Would be interested to know whether the lack of underwriting is due to the company being confident there will be no shortfall rather than the brokers were unwilling to underwrite. Given the past positive statements from the company about interest in the company I will presume its the former not the latter.

What happens to the shares on market open is problematic. Without news more likely to drop is the norm in these cases as the discounted spp will be soaking up a fair swag of the PRR money in the market. It needs to stay at around current levels to encourage taking up the spp.

Until this spp is done and dusted or positive news hits I will have to steel myself and simply await for the dust to settle lol.

cheers