Ann: Lapse of Performance Rights and expiry of Options, page-27

Hi westcott,

"We cannot afford to sit back any longer and wait for Giulio to get funding sorted, we need to keep him under pressure to give a definate date on Funding or give us Gaurantees/His word on all the items that still have to be finalised"

No one from SDL can give a definite date on funding. This is something you really need to understand.

SDL board and management is relying on outside entities for funding. SDL board and management cannot say with any certainty if/when any interested funding parties may sign, because SDL board and management does not control the decision making processes of these outside entities possibly providing funding.

Unless the item is controlled entirely by SDL, what you are asking for (definite dates, certainty, guarantees) is impossible for SDL to provide. The disclaimers displayed on SDL presentations makes this very clear.

Good luck!