$50million cap raising 0.31c, page-18

re: $50million cap raising patterson with on marke Schlomo

Got your name correct this time.

A very nice Hebrew name with a twist. Have not seen the name with a "c" before.

Anyway..... You are 1oo% incorrect.

The number of shares that GUL owns in AGM has not changed (abt 23 million), the number of shares that GUL has on issue has also not changed (abt 125 million).

Hence the simple valuation of Number of AGM hares owned by GUL x AGM SP / No of GUL shares on issue will still work out at 0.1889 x AGM SP.

After today, the only difference is that the AGM SP is in a hole.

Hope that clears things...


Chinkiat