west australian thursday article, page-2

Thanks for that Spiro.

It doesn't seem to add up to me.

This was said at the notice of meeting on 24/4/08

"Resolution 5 seeks Shareholder approval for the allotment and issue of 50,000,000 Shares at an issue price of not less than 80% of the market price for the Shares calculated over the last 5 days on which sales in Shares are recorded before the day on which the issue is made, or, if there is a prospectus relating to the issue, over the last 5 days on which sales in Shares are recorded before the date of the prospectus (Placement)".

If they still issued 50 million shares then the total doesn't add up to $12 million.



Maybe they went with less shares.

Any thoughts anyone?