js report, page-74

The nfi could easily exceed 40%,it will depend on what the directors say in their invitation to subscribe. Will they paint a fair picture of where the company is at and its prospects or damn their company with faint praise ? I make the point here that if ever there was a time for the "junior" directors to speak up and demand absolutely fair treatment of shareholders its when the Letter of Invitation is being prepared. The directors will have to be very careful to be sure that an nfi of over 50% doesnt go to the WK as a certainty,handing the control of the company over to the WK in an instant. You would expect that the directors exercise abundant caution re any deal with a WK as they must look for any pitfall in the deal,employing professionals without doubt.