agm notes, page-6

Engo - IMO the mood of the presentation was generally upbeat, obviously about the 09 results. They did however express caution about the impact of the GFC in terms of activity and margins. I felt this was delivered in a way as not being all 'doom and gloom' , but rather been realistic that NMS is not immune to it all.

SOB - The room was packed,but I would say the back end of the room was a lot of NMS employess. The rest of the room would of been(what seemed to me)an average age of 60. Yes had to leave, as it went a lot longer than expected (plus I was late for a meeting). No drinks allowed at my work so couldnt enjoyed those crownies :(

One thing I didnt mention last night was about the voting. As someone mentioned the only contentious one was the directors fees. 2 people actually voiced their concerns about the lack of tranparency of how this is paid etc... Ross commented by saying that as the company is growing this increase is to allow them 'opportunity' to compensate the directors. He did state that it doesnt mean they will use it all at once, likely over a period of time.

One shareholder, while voicing there concern also mentioned the incentive options payments & his conerns I blieve about the transparancy again. This was more to do with Christain's options that any directors/other employess. Ross defended this by saying that this is to ensure that Christain remains with NMS and isnt tempted by other companies. Essentially saying that the company is really trying to carryout what has been Christain's vision