Ann: Appendix 3Y (Raphael Geminder), page-17

Thank you, williamteddy. Your updates are beneficial for all readers. Obviously, Manipur continuing to accumulate is very positive!

If/when Manipur reaches 6%, and assuming I continue to hold my shares, that would bring us to 7.234%. It will still require a large number of private shareholders to continue to hold, but it at least puts us in a strong position.

Manipur's intentions are very much aligned with mine and presumably most other shareholders. As I have mentioned numerous times in the past, I have a long-term investment horizon, and clearly, Manipur and I believe that the current offer considerably undervalues Pact.