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HOC Rights - should I buy? Priced at 47p/right (if I exercise rights I ill ha!e

hare )ty Price (*" +otal

HOC 18405 0.76 13987.8

HOCN (rights) 6901 0.47 3243.47 17231.27

HOCN (rights) only buy 4401 4401 0.47 2068 16055.8

If exercise rights 25306 0.9 22775.4 A

,&%. '7. 0,%,'&. 1

25306 0.6 15183.6 C

25306 0.5 12653

!s do#t exercise rights 18405 0.9 16564.5 A

!"#$ %2000 in &o'ns*tion 24& '7. %027'2 1

18405 0.6 11043 C

18405 0.5 9202.5

3xercise rights I 35C3RCI3 6 RI8H+9 P3:;I:8 *%'%<

0.9 6210.9 A

'7. &,44'7. 1

0.6 4140.6 C

0.5 3450.5

;o#t exercise rights

+*in %2, in &*sh- no &h*ng to sh*rs (rights *r 30 *&h no- not origin*lly 47)

/ bought 'y 18405 sh*rs *t 1.61 %29786

/ / r&is A"" rights- / ill h* 25306 sh*rs (sn %3.3,) so tot*l snt or 25306

 o br*, n- / ill sll *ll 25306 sh*rs or %33086- hi&h is 1.307 r sh*r

/ r&is 4401 rights- / ill h* 22806 sh*rs (sn %2068 *n g*in %850 ro' slli

 o br*, n- / ill sll *ll 22806 sh*rs or %31004- hi&h is 1.36 r sh*r

>3I8H 6P

1. $ll rights sto&,s ill ilut *n *ll initi*lly- shorttr' g*in o %2000.

2. r&is rights short:tr' loss (n i sto&,s st*y *t &urrnt ll) o %55 but i sto

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o pay this" or I ca# sell the$ for a price of (curre#tly arou#d %&p"'

:et total after - *%'%@ to buy rights Partial rights exercised AI:6 ,

19475.4 22806 0.9 20525.4 18457.4

15932.56 22806 '7. 17332.56 15264.56

11883.6 22806 0.6 13683.6 11615.6

9353 22806 0.5 11403 9335

:et total i#cludi#g *,@ co$pe#satio#

18564.5

15987.8

13043

11202.5

=:; 8=I:I:8 .0 H=R3 I P3:; *,.2< =:; 8=I: 44 H=

910.9 742.9

:55.24 126.76

:1159.4 :577.4

:1849.5 :1017.5

sh*rs %33086

  ng r'*ining rights) so tot*l or sh*rs %31004

,s ris- &*n sll *t lor ri&

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  .2 +O 16B P6 *2& OR 3I:8 R3A=I:I:8 RI8H+

19307.4

16114.56

12465.6

10185

  3 (3 8=I: O *2& OR 3I:8 R3A=I:I:8 RI8H+ =+ %&P/H=R3" Ie

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  P3:+ *,2