2017 What a disaster, page-23

Hi Monhish,

Presumably Monhish, those key investors are Gary and the the board?

The game has changed since this time last year and everyone needs to cut their cloth accordingly. The information we get out of CX is little to nonexistent so we must rely on the TSN management protect our interests. I would still like to see a united TSI/TSN, and a growth story. However if CX cannot reach an accommodation with Gary and Jeff, it appears they are able and willing to move us (TSN) on to other opportunities in part, by leveraging our interests TSI.

We are down some 85% or so since last year. Whatever the Offer we made for TSI, I am sure it was not 85% less. The circumstances have changed for both parties, we need to find common ground soon or a divorce becomes inevitable. As an investor I want results, stability and a much higher stock price and to see this connection to CX at an end, preferably amicably.

I hope your daughter has a great time in the UK and gets excellent results. Hopefully this will all be sorted by the time you see her again.

Regards D