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jonwig - Sun, 01 Jan 06 :

Adie,

my problem is allotting the whole of the 6,...shares exclusively and precisely to the Cornell facility. The RNS says "pursuant to the agreement..."
I certainly don't question the arithmetic, just the interpretation.

Rights Issues are a quite a bit more costly than open offers.
I'd be very concerned if they placed at -say- 15p with sp at 30p and not make open offer 1:1 for existing holders.

We'll see - we shouldn't have the need to speculate about these things: maybe we won't for more than a few more days.

Thanks for your efforts.


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