Ann: Appendix 3Y Notice , page-77

I have been trading the markets for many years now. During that time I have seen my share of boardroom punch-ups! This certainly seems to have been one of them. In all this time, I dont remember one occasion where the sacked/pushed/resigned director has walked out the door & sold off their shares at market. They normally have shown some restraint and respect for fellow shareholders, and perhaps consider the harm that might come to their reputation if they dump shares on the market.

This does appear to me to be the actions of a "woman scorned!" That being said, what she has done makes good sense on an investment/trading level. She could easily have "dumped" the lot into the market, making a 450% killing for her Flexiplan investors. Instead she has obviously walked out & told her broker to sell a certain $-value of shares. She has effectively made 80% on her total initial investment of $976k, AND she still has 27 million shares free carried.

So she has wiped her hands of ICG, made a statement to her ex-directors, cashed in a great profit for Flexiplan investors, and still holds a bucket-load of shares for any big moves to come if ICG flys up and becomes a star!

For me, the positives are:
1] We now know what might have exacerbated the Thursday sell-off
2] I have greater faith in the integrity of the rest of the board for standing up to her and protecting shareholder interests
3] She was obviously more interested in her, & Flexiplan's interest, than those of the company and it's shareholders ... we are much better off without her.