Ann: Revised Appendix 4C clarification, page-55

I think the dividend issue is important, but more important is what Mr Xu intends to do with his shares and why he listed...

If he listed to pay back debts (via issue of free shares to the Chinese holders who dumped to reclaim funds owed to them), then Mr Xu might not want to run a listed company after he is able to cash out in November (too much reporting, too much scrutiny, not much to gain). Then we might see him dump his stock when it comes out of escrow, shares go to almost zero and then he can just sell Pandist and the other assets to a company Mr Xu incorporates. More transparency over Mr Xu's background has to be more important than the Div, right?

I mean, sure, if he wanted to list for 'prestige' and whatever else he might want to protect his holding and the minor shareholders benefit in turn as he tries to operate his business well and in the LT the share price naturally follows, but if it was a forced share-market listing to pay back debt, wouldn't he want to get out and buy the operating assets cheaply when he can?? Just saying