its not what they would like us to beleive, page-51

hws,

I have just got back from a very nice break in Melbourne for the AFL Grand Final and have just read your post from the other day.

I'm really a bit sick of discussing this, but I never claimed the July announcement was ambiguous.

It was the subsequent announcement (as Jenx says), when the company said they were looking for more working capital, which created the ambiguity (and personally shocked me into selling my holdings). As you say, the expectation for anyone reading the July announcement was that another instalment would be provided and that was the point of my many posts. That is why I continually posted on this forum asking what had happened to the second instalment.

The fact is another instalment of $116 million was made before the date of the annual statutory report just released, but it was never announced by the company as being received. Why would the company announce receiving the first instalment of $84 million but not the second instalment of $116 million or the fact it still had $75 million of bridging loans up its sleeve? This fact remains buried in its annual report (in a note to the directors report). I'm very surprised that no one else on this forum seems shocked or that the media has not picked up on this glaring omission by the company.

IMO the company should have told shareholders in the 2 July announcement that the bridging loans under the Binding Memorandum of Cooperation had a maximum limit of $275 million (it didn't). IMO this is a material fact that shareholders should have been entitled to be informed of.

You have called me naïve for expecting that directors of a company care about all their shareholders, big and small. Ok, maybe some don't care, but they do have obligations to keep all shareholders properly informed.

You call me arrogant for simply asking people to carefully read the words in announcements and to not look at things through rose coloured glasses. I have also recently highlighted my opinion around the solvency of KML and what future insolvency of KML might mean for GBG shareholders. People can take this or leave it, just a cautionary opinion with no agenda.

You speak as if you've got your eyes wide open, you claim to know the risk you are taking with GBG as your only stock market investment. You may have more insight than most of us about GBG. Good luck to you with your holding.

I got out at 13.5 cents, time will tell if I live to regret selling. For the moment the money in the pocket and being free of the anguish of holding this stock still feels good.

SilentO