Ann: Dividend/Distribution - GRR, page-223

Who else received this email from Grange management?

Thank you for your investment in Grange Resources.
mce-anchorWe are sorry to hear the interim dividend payment of 2 cents per share doesn’t meet your expectation as a shareholder due to the strong financial performance of the company in the first half of 2021.
Although iron ore prices have increased significantly over the past year, we are seeing a significant pull-back in price and volatility in the price still prevails. Considering the significant investment and capital expenditure commitments that need to be made soon, Grange has moderated the dividend payment in favor of long-term strategic investments.
We are preparing for several sustaining and growth projects that will require capital investment.  These include investment in the next phase of open pit cutbacks, completion of furnace refurbishment at Port Latta, further investigation of underground potential in North Pit at Savage River and preparing for potential development of the Southdown Project.
Grange appreciates the support of all our shareholders and is seeking to further grow the long-term value of the company and shareholder returns.

Kind regards,