appendix 3b, page-33

Hi SP3,

A couple of points to your comments below...

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What's 47m?

We've seen the whole register turn over in a space of 3 consecutive days - on a good announcement.

Besides, given that the Matmor IP is still being negotiated, would they be allowed to sell?
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Call me old fashion but I prefer it when the largest shareholder actually supports the company.

Re Matmor IP acq .....well the brothers are the commercial rights holder so they can do what they want. They demonstrated this last year. I just hope management in an intelligent way secure the IP sooner rather than later.

Just so you know ''whole register turn over in a space of 3 consecutive days'' is not actually a good thing. The tighter the register the better but unfortunately a poor registry makeup and severe dilution has eroded this. Share consolidation here we come? ...maybe next year.

I wouldn't dismiss the 47m (potential offload) plus the con/note 'sell overhang' as a non-issue. It could impact more than you realise if it's dripped fed to the market particularly around cap raising time.

Still worth a trade at the mo but need to stay nimble.

Cheers,