Forum Archive Index - November 2003

["terry weston" <tweston@sympatico.ca>]

Hi Mixtrader  I think you miss the point , as a lot of people do . Marathon had to make the announcement through no fault of thiers because <<<<< The holding fell below 8% as a result of the exercise of share options rather than through transactions undertaken by marathon>>>>      [see below]. 

 Somebody  got 400,000 shares @ .57c per share. and everybody else lost 400,000 @ .90c  divided into 138,297,202 shares.  there are now 138,697,202 shares  

everybody took the hit . our equity in the company is diluted  each time these allotments to directors  are made. It would be different if the shares being issued were bought back before being alloted . then the total issued would be the same. That would cost the company money. Who ever got them, would need $280,000 to pay for them and have to sell

190,477shares to pay for them . leaving  them owning an extra  209,523 shares @ $1.47 = $307998.81 .

Do you get the picture now ?      regards  statkey

 

WRI
10/11/2003
ALLOT

REL: 1411 HRS Wrightson Limited

ALLOT: WRI: Allotment of 400,000 Ordinary Shares at $0.57

This is to notify you in accordance with listing rule 7.12.1 of the issue of
securities.

Class of securities - ordinary shares
Number issued - 400,000 @ 57 cents per share
Payment method - cash in full
Percentage of total class - 0.29%
Reason for the issue - exercise of share options
Authority for the issue - shareholder approved option plan
Terms of the issue - rank equally with existing ordinary shares
Total number of securities after issue - 138,697,202
Date of issue - 10 November 2003
End CA:00094459 For:WRI    Type:ALLOT      Time:2003-11-10:14:11:03