$16mill sales this qtr - is this enough, page-14

Bill - one thing to realise is that once BEE partners are in a position to capitalise on their shareholdings, the company will be in a very different position to where it is now. Most valuations of the company are only looking at the next 2 - 3 years, in which time BEE partners are not likely to get any returns on their holdings. So, for the purposes of calculating cash flow returns & profits for 2011 - 2013 it makes sense to exclude BEE percentages. LT, and from a legalistic point of view (eg. t/o offer, sale of assets) it is, of course, a different story. Note the use of the term "attributable". We are just looking at the same company capital/equity structure from different perspectives.