Ann: Change in substantial holding, page-11

Best to calculate their break even which is still around 2.7cents given they have been buying since the day the deal was announced. Either way - if Pybar offer more the hedge fund wins (everyone does), if Pybar does not the hedge fund still makes money, and if a no vote - everyone loses ! Smart hedge funds don't speculate they lock in profits when they are there. All this means is that the vote is 90% likely so why would anyone wait until late April for the chi when you can have it in 72 hrs !!! Thank you Hedge Fund cash in bank by Monday next week -