Ann: Notice of Annual General Meeting/Proxy Form , page-43

re: Ann: Notice of Annual General Meeting/Pro... Does the company need to raise additional funds? No.

If the company was to announce a Rights Issue to s/holders under the 15% placement capacity, would it be fully subscribed? No.

So why then would the company be seeking approval for the additional 10% placement facility? Is the answer really not that obvious to everyone...?

Hi Pman,

"Can't agree more. Pno looks like dead man walking. Where is the benefit to obj. We get a jv with a product that has little penetration. Only benefit is to keep Pno afloat for another year as obj invests its cash at shareholder expense."

Our Global Joint Development partner is the world's largest Consumer Goods company - not PNO

In regards to PNO, people need to read fine print - The short fall was significant, as was expected, but the real question is, why is the Chairman so keen to own over 10% of the company in 2012?

2009: 1,371,875
2010: 4,376,194
2011: 37,793,129
2012: 202,793,129