Ann: Market update, page-201

We have had a self imposed deadline missed and not had any positve new information provided by the company since a lot of negative news.

After so many own goals I have lost some confidence in the ability of the company's management to deliver. They now have placed enormous focus on 29 February presentation. I have not seen evidence they understand the need to provide comprehensive communication on results and initiatives to address performance issues to restore investor confidence.

Until that happens I am now almost bordering on a sell recommendation. Hold for the moment but if don't see comprehensive communication at 29 February presentation and another repeat of agm presentation I would put a strong sell on this stock as would just show executive and management of this company is so out of touch and out of their depth.