Ann: Company Update , page-14

I'm two-thirds out at 4.1 cents for a 10% loss - I assumed that the DRD shares were to be distributed to shareholders through the establishment of a DRD CDI trading on the local stock exchange - I don't see the point of paying MLI managers to "hold" the DRD shares on our behalf! What are they going to do - put the share certificates on the boardroom table and sit around all day looking at them so they don't blow away? No wonder the managers are keen to approve the offer even before they have explained it properly to the shareholders! Their jobs are retained.

I really think the best thing now is for the company to wind itself up and return the eight cents or so value to the shareholders, but can we be confident that the directors will be willing to see their jobs disappear? I bet not!

Still, we have a few weeks for more developments to occur - perhaps a rival offer. This one is so low, it won't be hard to trump! Let's see what happens