merger agreement terminated, page-20

It is hard to understand the loyalty the current PRH board has enjoyed from it's shareholders to date.

During the past year or two their motives have appeared very dubious and history shows they have definitely not been in the interests of shareholders.

The questionable path they have been on since the release of the DFS, and the massive decline in shareholder wealth since the last management reshuffle, gives me very little confidence in their ability to grow the company. They have systematically devalued PRH assets and now, under the guise of necessity,are looking to divest them perhaps to advance their interests on other fronts. The cynic in me would like to know if any PRH director has interests in companies bidding for SLR work.

In any case their tenure has to be very short for PRH to prosper in the future, imo.