we are so missing the real point.........., page-5

Polpak,
You are under-estimating the dilution that will be caused by resolution 3. The facts are clear:
- Pre capital raising 699 million shares.
- After right issue and unconditional placement (no vote required) 1,607 million shares.
- After conditional placement (resolution 3) 2,835 million shares
Issued shares have effectively more than doubled from 699 to 1,607 already. IF resolution 3 is passed, issued shares will be four times more than pre-capital raising.

How is it possible to say that there will be no real concern as to this dilution? Doesn’t matter how many shares you owned pre cap raising, there will be four times as many if resolution 3 (theft) is passed.

Our share price was rising from a low of 40c, we have raised 1,000 million that can be applied to April 2010 debt. Without this Resolution 3 dilution, the share price will most likely rise to between $2.5 and $4 by March next year.

So..... raise the additional capital then, when it’s won’t be so diluting, and will allow existing shareholders to reap some reward for loyalty.
Institutions that will receive shares under res 3 can’t vote, so retail shareholders have a huge opportunity to be heard here.

This isn’t rocket science.

Resolution 3 is bad business -(unless you are UBS.)

Vote for rationality and VOTE NO.