Ann: Letter to Shareholders Re Rights Issue , page-50

MOJO,

Not enough TU's for what you wrote.

I am very glad though, that you are beginning go to see/realise that not all the roses in the garden are without thorns.

Indeed, the questions should be asked at the AGM.

Why on Earth would an offer to buy shares be made to the long term and suffering shareholders at a premium (about 25%) instead of doing the same thing at a discount where the chances of getting it successful would be nearly 100%.

Expect the unexpected we have been told. IMHO, this is the real case in point.

Good luck.