Vote, page-10

Sheny and Trythree. You two are incredible. Your insinuations that LMB management are somehow out to leg over investors is outrageous. I suggest it may driven by a mixture of simple ignorance and naivety.

Do you know what Och-Ziff on the register represents? Do you know the level of due diligence they needed to complete before they would/could become a significant shareholder in a minnow like LMB (they bought into LMB when the market cap was well south of $15m)? Och-Ziff was founded by an of ex-Goldmann Sachs high flier in 1994 and is now the 4th largest hedge fund in the world with US$40bn under management. They didn't get there because they are a bunch of plonkers. Och-Ziff have signed off on LMB's management (particularly the MD Richard Trevillion) and their resources in both Australia and South Korea.

Not only that, they are intimately aware of what China Hengda offers. For goodness sake, they introduced LMB to China Hengda. They saw in Richard a man with the right credentials to put together a very tough deal with an eye on the riches a successful merger would offer. They are not in this to make a million or two. They are in it to make a difference to their portfolios....think hundreds of millions! To suggest that LMB are using massively inflated values for China Hengda (as a way to somehow shaft share holders) is not only preposterous, it has clearly been refuted by independent valuations.

There may be further delays. As I said, this is a complicated, multi-party deal being done in a foreign country. But once the merger is complete, a recapitalisation of the merged entity will be completed (a mixture of mostly debt with some equity) and at that point institutions will start to line up. Until then, the share price may go no where. It may even go lower (but on very little volume I would suggest).

Enough already. I suggest that no matter what I say here it would make absolutely no difference to your negative view. Some people are 'half full' types. Some are like you two.