fairness to shareholders, page-28

In an ironic way the directors have actually listened to us little people bang on about free shares as compensation.

They must have thought it was a great idea but the trouble is they handed out the free shares to themselves and their mates*.

15.75 million free shares for the directors and 5.85 million to unspecified *Other shareholders for a total of 21.6 million freebies.

Oh boy, if ever you needed reminding about exactly where you stand as a loyal long-term shareholder in the eyes of management this is it. A real slap in the face.

Regardless of that, I honestly think that the IPO will fail anyway. Who would pay 20c per share when they could almost certainly buy them much cheaper on market?

I'm also voting against this transaction purely based on the terms. Let this be a salutary lesson for us and them.