takeover and aquisitions , page-41

HT,

Excellent post, totally agree (making response to Ville superfluous) with it with one exception.

The exception is that I remain uncertain whether RXM would be good for OZL, and whether there is not perhaps a better option out there.

It would certainly fill the hole, and it would certainly fit better in the OZL stable than in any other I can think of. Would presumably lead to quite a few synergies in personnel, skills/expertise, administration, regulatory compliance and procurement etc.

The cost of using our capital and cash flow on Hillside a lot lower than the cost of capital for an independent RXM. ATM we have $750 mm earning next to nothing.

Therefore IF our board decide to make a move, I will certainly approve.

EL