Ann: Change in Substantial Holding - Creasy Group, page-25

Hi CV,

I am currently visiting Australia and am in Perth today.

Given that MC has again increased his share in GAL this week (now 27.4%), IMHO, this is a clear sign that he has very big plans for GAL.

I was wondering whether he may be doing this to ensure that GAL does not become the target of a hostile takeover i.e. he may be planning to eventually hold just over 50% of GAL together with IGO (who currently already hold 10% of GAL).

In addition, perhaps MC might be planning to use GAL as the vehicle for an upcoming and much advertised merger i.e. CNJ and GSR (with their MTJV) would then become part of GAL.

I would appreciate your thoughts.

Thanks and best regards