new large investors, page-27

TTH,

I had been pondering that exact same question! When is an order not an order? Clearly when it has been placed with CFU!

In any other universe when an order is placed subject to certain conditions, once those conditions have been met, then the order is valid and live. At this stage, breaking the order would carry some sort of break fee. Now CFU have not mentioned any sort of compensation for the temrination of this order whatsoever.

So how can it be classed as an 'order'? Clearly it seems that there were no binding conditions to proceed and all that the order was was an expression of intent, as opposed to a solid order. If so, then as you point out, the Nuon order announcement is clearly misleading.

I had not planned to go to the EGM as I don't really have time, but if anyone here is planning to go, there are some serious questiosn I think that management have to answer.