Presentations, page-10

Acees,

Yes, cap raising was my first reaction. On reflection, it need not be so. But he will have a good reason for a Roadshow. Present funding arrangements almost cover the CETO 5 and 6 projects. We have never before been in such a positive situation as now. However, there are many steps to go in further development and for diverse locations. The approval of the 10% placement facility (AGM Resolution 4) allows for some flexibility.

The prime reason would be to talk up brokers; shareholders are ancillary. What will he say? Most likely, the deployment of the first CETO 5 as the ‘beginning of the new era’ in wave power.

Leading explanations on CETO 6 are also essential. MO was in a very awkward situation at the March Roadshows in that CWE had just made important decisions on the change in technology and he didn’t really know yet how it was going to fit together. Hence the diversionary stories about the self propelled BAs, etc.

There is an outside chance that MO might also make a statement on DoE EERE FOA 1081. (Just writing a separate post on that.)

Regardless, every opportunity needs to be exploited for the extraction of useful information.

Juke