Received another call yesterday. The caller represents LLC. Very nice gentleman & professional. When I was told that if the deal fell through, then the SP will reduce down from the .34 cents & a Capital raising will be very dilutive. I said if that is the case, then one could reduce their holding by 25% - 30% & apply for full entitlement in 2010.
Well the suggestion was to sell the whole lot rather than half.
It wasnt till I read Beachmans post that it occured to me that even if we reduced our LLP exposure by 25% - 50%, it still means we are a shareholder that can vote NO .
Beachmans post made so much sense to me. The danger to us if we dont participate in SPP then we get diluted. This is still 5 mths away. So just prepare for it.
My daughter only had 55,000. Sold half at .34 cents & will vote NO & keep the proceeds for next yr's SPP.
PView, Even with a 4 in front, I would have been persuaded to accept.
LLP Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
