Ann: Sale of TCM, page-13

Hi all

The finalisation of the sale of TCM is extremely positive. Yes, the sale price was reduced, better that, then wait X number of years for it to be finalised. Just remember, the company still has a debt to Kopex, from memory that was around US3m, so don't get to excited calculating an asset backing until the company clarifies the Kopex loan.

I suspect the Kopex Loan will need to be finalised before PZC is in a position to move forward and reinvent itself. Whether that be NEC or any other deal. As a reminder NEC is still under administration.

Conditional on any new deal, PZC will need to re-comply with Chapters 1 & 2, ultimately this requires a shareholder vote. PZC will remain suspended until such time it re-complies with Chapters 1 & 2.

PS That article is incorrect, in that PZC has been trying to sell TCM for greater than 18 months.