code of conduct

I remember reading what Mikey referred to some months ago, and I found it again tonight.

4. General Ploicy ( ZYL website)

Employees and Directors are not permitted to buy or sell shares where there exists and they are aware of price sensitive information until such information has been publicly available. Regular memorandums are circulated to all employees enforcing this policy.

I raised the question of directors not buying some months ago and I was shot down in flames by Kincella for suggesting that we need to have directors buying. At the time The Ferrett pointed out that NS was a youngish man with family committments and that could be the reason.

Whatever, I am very comfortable with my holding and for the first time pleased to say that I am in front. Currently hold 300,000 shares and first purchase was made in the 7's. Added mid and low 6's and mid 5's. Even when the sp was abismal never thought of bailing out as faith in the Company prevailed. I have made lots of lousy decisions with shares, but ZYL is not one of the bad choices.