Um, err, no sorry tedmunds, I don't understand it all well...

Um, err, no sorry tedmunds, I don't understand it all well enough to explain it to you.

Bukka knows more than I do.

I just think (with no evidence I can show) that as of the up-coming entitlement date, all shareholders will be offered an equal, pro-rata chance at new shares. The sophe's etc have had an allocation already and their new shares will be counted for the next distribution (that I hope you and I will be in for too).

I like to think I'm not stupid (again, not much evidence!) but some of these complicated announcements need an accountant or lawyer to understand them.

My guess is pretty much what Bukka says - that in a few days, all existing s/holders will be offered (1 new share plus half an option) for 0.6c, at ratio 1 for 6 shares held at date.

Just my opinion.