agm.....another view, page-15

Good post, sven. And appreciate the information. But there are things that still rankle with me.

First: the fact the company found it acceptable to offer up NO presentation or commentary regarding matters which were spoken about at the AGM. That's a FAIL!

Second: Any of the PEN knockers, (those who hold shares only) and who claim to be across these matters, if they are so concerned, should now contact PEN and submit methods to overcome sentiment and the financial crisis otherwise.................................. let the board get on with their job

We did that. Or at least some of us did. And all we got were conflicting statements. Statements which as history shows turned out to be false. That's a FAIL!

Third: you mention workers who are on $200,000 per year. Well that's purely labour market forces. What are the going rates for CEO's worldwide? I shudder to think. Are they worthy? Given the parlous financial state in which most CEOs have left Western Democracies, hardly. As for PEN, it obviously isn't turning a profit, but considers it prudent and wise to ratchet up the ante (which inevitably comes out of your pocket and mine), whereas those driving trucks in the West are adding immediate value up and down the chain. That's a FAIL!

Fourth: you mentioned the Nucore situation, for which I for one am grateful. My question is, why leave that until now? Why create a sense of anguish, which genuine holders felt at the time, by skimping on vital information. Information which clearly was not confidential, otherwise it never would have been aired. For an answer, go to the FIFTH point. In the meantime, that's a FAIL!

Fifth: in another post, you said: Why would they bother to offer more than the legally required announcements in the face of unrelenting personal abuse ? So now it's a question of "be nice, play nice, or we starve those of you who we deem unworthy of potentially vital information." Assuming they have any, of course. If this is their new mantra, unless of course it's a perception of yours, that is wholly laughable, amateurish, puerile and smacks of selectivity. That's a FAIL!

ALEA IACTA EST

The die is cast.