placement, page-44

Z,

responses.

1. the small bit is $25M, 30% over current price that was heading south at suspension. These guys are fired up, and believe they are going to land a deal.

2. we are dealing with Chinese, and you want a nice outcome by publicly announcing your own deadlines? Get real.

3. Multiple investors...and your comments about dealing with one interested party would be.."we are getting screwed and shows lack of interest". No way to make you happy it seems.

4. "few days" you mention a few times. My reckoning suggest there is still a week to go TCDU already have had many discussions over a long time with those parties already, and one can assume those parties were expecting them the day they turned up in HK.

General

The Azure activities suggest they are leaving no stone unturned, and listing is not preferred. The other Chinese parties can see it as a threat and CDU has options, so Azure does need to make it look totally credible.

Now, imagine you are the entity negotiating with CDU, where is your wriggle room and leverage, other than doing a straight deal. If you have ever tried to do a straight deal with Chinese companies you'll know there is no such thing - just a different mentality in getting "balance and harmony".

Others can judge "balance and harmony" between our posts.

(As an aside, at the Paris Peace talks, the Americans turned up and booked rooms in the Paris Hilton. The Vietnamese turned up and bought a villa outside Paris. Perhaps Zzedzz you can learn something about Asian perceptions of timing).