Ann: Results of Meeting, page-13

The extra 10% was to be used for cornerstone investors and not retail investors. Now we have a situation where a cornerstone investor who knows that the current DFS is book valued at 30 cents per share. These cornerstones don’t give a shot what the price is now. They would be quite happy to invest their $ approximately at around 10- 15 cents value per share. Now we have to go to the market which is more costly to ADN and tap the retail shareholders to raise say 10 million dollars for say approx. 2 cents per share.

So many pissed shareholders will not participate then we are fu…ed. Back to 60mtpa

Pissed off.