Ann: Appendix 4E & Full Year Statutory Accounts, page-2

Dear Shareholders
Can you tell me how you feel? Especially when they release this report late Friday afternoon.

Am I allowed to express any opinion? I was a long time holder until 2 years ago.

Anyway, here are my comments:
Vague report, Directors over paid, poor revenue, look at the Cash Flow statement. Am I the only one who finds it vague - like something big is missing??? There should be at least three sections there, not two. Maybe I am dumb.

At loss per share is not as bad as last year. I am really struggling to find anything positive from this report. I hope someone smarter than me finds something.

I feel very upset on your behalf. I have since moved on and so glad ACR does not exist in my portfolio. Are my feelings misguided? If I was a holder, I would feel so furious.

Once upon a time, this stock nearly reached $4. Take my comments with a grain of salt. Hopefully someone can counter what I am saying here. I just feel for existing share holders, especially the long timers.