read well - latest announcement, page-33

Jake,

As I previoulsy wrote, our MD is not a very happy camper now. Especially when it is all coming back in his face, and having to be facing the music form disappointed shareholders and the Board. And I am quite sure now, that he will try his utmost to save face in order to keep his name as clean as possible in the Corporate World, that it can be very unforgiving. That is the way I see it and the way I would handle it amnyway.

There is no doubt that BPT is very unfavourable in this moment in time for their doings, firstly with ICN, and now with ADE. IMO they aren't something that one can blindly trust any longer. And in Sharemarket World anything is possible.

There will be a day though that Reg's name won't be the flavour of the month any longer, and he will then have to start reconsidering what he has been doing wrong to deserve it. For, by being ruthless, IMO chances are that you will be singled out and left to suck eggs. I woke up to his antics quite sometime ago after costing me a hell of a lot of my hard earned, while he couldn't care less about me anyway. I am just another number. That's all.

What yo have to now consider is that, yes as I predicted on the day, BPT will take control of the Board, but we still have the Corporation Laws on our side where BPT cannot appoint all Directors in ADE belonging and recommended by them and to look only after their own interests. The Law states that there have to do some Independent Directors appointed to the Board as well, one of them may even have to take the chair, and these independent Directors have to listen and safeguard the interest of all shareholders, NOT JUST BPT just because they are the major one.

IMHO, it could turn into a very big nightmare for BPT because they would have to act totally Independent of ADE now. And I feel quite sure that ASIC woul dmake sure that they will do so. Especially when there are some minority Shareholders interests at stakes.

I to am a shareholders in ICN and I hope that the MD there wake up to the BPT antics. I am sure though that he would have woken up already to Reg's aims and doings. I am quite sure as well that Reg would have to start looking at what he is doing because IMHO, ICN has someone else in bed with them now. As you wrote, that could be the reason as to why there were no shares issued there.

Finally, the announcement just released that BPT has made the offer final, IMHO is nothing but a big bluff. Yes they can do that, but they are also now admitting that there is no chance of them getting the balance of shares required to reach that 90% magic figure in order to force Compulsory Acquisition.

So, to me it is just a desperate call from Reg in order to try and instill fear in the remaining shareholders that are hanging on tight to their shares. I hope that they won't fall for that trap in a rush. Especially when we do still have until the middle of December to make up their mind as to whether they should sell or not, while waiting for the IE to issue his report. Most importantly the 20 cents on offer will not change one little bit.

DYOR. But, that is what I am going to do. WAIT....!!!!!Until the Board will tell me Even if it was just for the purpose to annoy Reg and his cohorts and costing them more money, lol.

Regards