Ann: Appendix 3Y - David Wrench-STX.AX, page-39

Sometimes I despair at some people's blinkers. I don't give a TC how many shares the directors have bought. I don't give a RA what price they paid for those shares. I don't give a FT whether they are showing faith in the company. I don't give a FF what the ends are if the means are unprincipled. Everyone can blather all they like trying to excuse the directors' actions but they are missing the point. The point I and others made is very very very very very simple and even the thickest of traders should be able to get their minds around it and see what I am saying: The directors gave themselves a discount and did not offer the same opportunity to shareholders. Now on the scale of corruption that goes on in the sharemarket that doesn't even begin to rate, but the principle is important and what the directors did - what they have repeatedly done - just stinks.