Ann: AGM Investor Presentation, page-43

Although you make a fair point about Turners, that a capital loss of $2 million dollars to them would be insignificant in such a large company, I don't entirely agree.

I think Turners motives for investing in CL8 would have been more than just renting out their own vehicles. I am sure they would wish to prosper from their investment and they need CL8 as a viable entity for back up and support with Carly.

For this reason I believe they would want Carly to be successful and grow.

Also I make the point that even though the fleet operators have a significant holding in the company, Willoughby's are still the major shareholder holding near on 25% of the capital. The fleet operators would find it difficult to restrict Carly in a significant manner. Hopefully this would never happen and the board could work effectively together.