Ann: Trading Update, page-16

One thing that is annoying me is every media outlet is saying potential takeover yet the company is now saying a recapitalisation these are completely different.

How would FW be involved in a recapitalisation? As his huge shareholding would get diluted as every other holder.

If he wants to gain control of the company you would think he would make a play for a takeover which would benefit existing holders more even if it is at a lower price 50c etc.

If it's genuinely a takeover and not a recapitalisation nothing else matters sales,current cash balance etc current holders will get thier per share payment and everything else becomes the responsibility of the new company holders.

It becomes tricky if it's qenuinely a recapitalisation as these only ever benefit debt holders and not shareholders.