[Guest]

HFJohnson: Yes. So long as you retain the 100 shares, you will remain eligible for the Shareholders Club. They used this exact example at the AGM to help people understand just what they can do and to make clear that you can use this offer to benefit short term.

A&S&O: I do see what you are saying, that is indeed the case if you were planning on the first weekend of October to sell your shares first thing on Monday 6th October.

I however look at it totally differently. To me, my shares which I currently hold, are worth however many I have multiplied by whatever the current market value is (Currently: €1.24 EUR). But it doesn't actually matter the price I purchased them at - that was an investment I made at the time and until I sell them I have neither gained nor lost anything. Similar to having a mortgage where the house is in negative equity. This only matters and becomes an issue IF you are selling at that exact time - otherwise the loss is purely academic.

If, as suggested, I want to keep a minimum of 100 shares, then whatever I do with the extra ones I am able to buy and sell through this rights issue is a bonus. So as long as I retain those 100 shares - I can buy 900 at €1.00 EUR and then sell them at €1.25, thus making a gross profit of €225.00 EUR.

I will still remain a member of the Shareholders Club and still retain the 100 shares required for membership. Their actual value is unimportant until I come to sell them. Which I don't want to do as I want to keep my membership and benefit from the discounts and offers available to me.

If alternatively I want to take a punt and keep the extra 900 shares or part thereof, then again, I have made an investment and will not make a loss or gain until such time as I decide to sell them.