vote no to the ratification, page-8

well at least the last issue was a rights issue - which means existing shareholders can participate on a pro-rata basis. there was also a placement with it.

Any new issue would be a placement, much more dilutionary to NTA and eps at current price levels, at a whopping discount to market prices ( and a whopping discount to NTA ), and placed to the hands of mates and cronies of ING. That is the reality. A substantial placement now would wipe out actual shareholder wealth much more than the rights issue did.