Ann: GLE Restructure Update, page-9

Hi Zog

I don’t often post anymore but can just clarify the second point, would GEH really get annoyed and give an ultimatum lik that when SLX are picking up their tab? I really can’t seeing that being possible. Why put any pressure on to close it down when they currently have a zero carry? I’m also not convinced that other aren’t interested. Just that the price isn’t right. For me the issue surrounding this is the price that price that GEH are asking (externals and SLX). Eventually we’ll get to a situation that SLX exercise a breach in contract and walk away taking the intellectual property elsewhere or they take the GLE stake. Both options have pros and cons at current market capitalization.

I am the Iceman!