Forum Archive Index - May 2001

["Michael Phillips" <michael.p@paradise.net.nz>]

Phil wrote

> The SUB rights give you the "right" but not the obligation
> to subscribe for  more shares. It is non-renounceable so you
> unfortunately cannot sell your  rights.

Thanks for that - the penny drops now.  Nothing like a little
clarification to help get the cogs in my brain moving again.  Will have
to store this piece of info away in a piece of my brain that is not
affected by memory loss.

> It might be a plan to subscribe for them though, so you don't
> have your holding diluted, but it is entirely up to you whether
> you buy them or not.

I'll definitely be subscribing.  At 60% of listing price and 75% of
present trading price, it represents a good way to average down in my
mind.  And when the delays with getting ABS rubber stamps are finally
attended to, I'm hoping for a little plain sailing.

Regards
Michael
===

Disc: Hold SUB - will be taking up rights issue.


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