Ann: Response to Terracom's Announcement of an Unsolicited Bid, page-28

Interim chairman from memory.

The chairman should be appointed after a proper search, which IMHO shouldn't be related to ANY party - unv, TER, Bras etc.

I don't know what provisions we stand under but surely some protections afforded to the minor shareholders should they start unfairly lending money to themselves.

I still don't know why John Hopkins let himself go down so easily.. but what's done is done.surely they could've let it goto a vote. Not sure why UNV management needed to offer a board position. to all these holders to begin with, clearly if they survive this it will be a lesson well learnt. There should always be >50% majority independents. True independents i.e. not holders.