vote no to cedric’s performance shares, page-75

I have spoken to the company secretary on two occasions. Once today and once shortly after the announcement in regards to the Cedric gift of performance shares.

First time I respectfully challenged the need for consolidation and secondly that shares to Cedric was premature.

Second time said that the SH have started to voice their concerns by selling, in some instances, and more than likely putting in a protest vote of NO for the share issue. I asked to raise with the board that by removing the resolution will send a signal to the market stop the share price free fall (mentioned that surely FS could not be happy either).

Lastly, I made him aware that if ASX is watching closely they MAY ask if NSL have share holder spread post consolidation. At the moment at 1c approx and going into consolidation questions may be asked.