Ann: Company Update, page-35

It's all about the level of confidence the company can engender from the new prospectus and plans going forward.

Keeping in mind:

- 12 Mill in kitty should eliminate concern re: company solvency.

- The SP was already sold down by a huge amount.

- The fundamentals appear unchanged,

- The plans and prospectus should provide a huge boost in terms of removing previous uncertainty.

Thanks for the offer, but I decline the conditional position of nominal hero -thanks anyway

Cheers,

SJB