Ann: Chairman's Address - 2017 AGM, page-4

Got a bit emotional towards the end there. Almost felt sorry for the outgoing Chairman.

My question to the Board is why didn't they actively pursue alternative funding solutions from Day 1? Why wait until earlier this year to begin exploring alternative solutions when they were fully aware of the issues PJ was having with the illustrious 'Debt Club' before they even took over? All it really resulted in was 2 years of watered promises and a waste of shareholders money!!!

So now, we're back to square one really because what happens if the credit approved terms sheets from the new syndicate of lenders aren't acceptable (as they weren't in March 2013 when PJ rejected finance offers), and shareholders vote to decline the offer? Actually, I think most shareholders will pretty much vote in favour of any offer considering how bloody long this is taking.