Ann: Shareholder Update, page-2

Key points:

- two years after signing the Pune deal and 8 months after announcing they are fast tracking production, they are still yet to finalise the plant design and upgrade works meaning no progress has been made. Since design has not been finalised, what have they spent all the money on so far?

- equity investments are confirmed as being highly illiquid given the long time taken to sell these. LWPs holding in many far exceeds the available buy depth.

- no word on key developments such as Court case or R&D refund which is critical to the company being able to fund their one plant.

Edit - no longer presenting at the conference, wonder if they were kicked out instead of organising a meeting that could have taken place at any time with other staff manning the stall instead.