vote no to cedric’s performance shares, page-32

With all this disagreement, I think we can all agree that Cedric brought it upon himself to a large degree.

If he had kept the market and shareholders informed as to progress updates, changes that may have ocured (important matters) with explanations and especially not having decided to provide quarterly updates... that was his biggest mistake and to have not rectified that decision is ridiculous, I believe the market in general and shareholders would not be constantly surprised and have greater trust in him.

Furthermore, I don't think Cedric should be 'fired', however a message does need to be sent as obviously all other methods have been unsuccessful (I have called him 4 times over the last 3 days and left messages requesting him to call me back with no response - all I am after is an explanation as to the consolidation and an understanding what happened with discussions in securing financing).

Someone mentioned that the 'No' vote is pointless. No, it isn't pointless. The message is sometimes just as important as a win. If people don't try something just because it is difficult or the possibility of failing is too great, then progress will never be made and you will always be left wanting.

The question is not will we/you win, the question is do you support his performance incentive or not? You may agree and that is fine, I do see the reasoning behind it and in normal circumstances I would support it and maybe because of Cedric's extremely poor track record this is something that will benefit NSL. But, I think this next expansion will be easier as much learnings from phase 1 & 2 will benefit in a speedily setup and not so much due to Cedric's capabilities. Also, he has left NSL wanting far too often.

It is a no vote for me (sorry but will not disclose my holdings as prefer privacy (not to suggest I have a lot)) as a message to Cedric that his managing of a number of key requirements has been terribly handled however I do hope he of course succeeds and works hard for the companies success.