Ann: Zero-Spin Silicon Project Successfully Completes Stage One, page-21

I can speak for about 1% of the shares, and the answer would be "no way Jose" at anything close to the current SP.

The fact of the matter is that the Silex tech has been extremely successful in a technical sense, so long term holders should be rewarded with a solid long term return. A 10% CAGR on the 65cps 1999 float price would result in $5.29ps if the offer was to come next year. A 20% CAGR would be $35+ps.

We are sufficiently cashed up that we are better placed than most early-middle-stage loss-making tech companies to go further without the need for outside capital, meaning less dilution, meaning a higher price per share.

I've got a pretty good eye for value, and I've forsaken millions in stocks that were almost stolen from me, in takeovers that proved to be extremely lucrative for the buyers (I lost Dell to a management buyout, I lost Northern Rock to a government nationalisation and I lost PrimeAg/Tandou, to a plain vanilla takeover, in all cases the new owners made large multiples of their investment at the takeover price). On the positive side, I once advised management, as a shareholder, that Michael Page shares were worth around 550p a pop, when they received a 400p takeover offer, and they listened to me, rejected the offer, asking for the higher price, the buyer balked, walked away, and Mr Market recognised the value within two years.

I hope that this time, shareholders representing at least another 9% stand with me.

As is, right now, I'd be looking at $3-$4 to part with my shares, but as more good news emerges, and the uncertainty recedes, that range will climb higher.