All is good with MP1

Hi Guys,

I'm writing this because a number of the posters on this board acquired MP1 based on my recommendation. I understand we are all responsible for our own investment decisions but I cant help feeling a tiny bit of guilt regarding the recent share price decline.

To be honest I'm heavily invested in MP1 and have lost plenty of paper worth since the recent drop, although I'm not concerned in the slightest because this is multi year play for me and the market will always fluctuate. My only frustration is that I don't have enough free capital to by a huge chunk at this price reduction.

I also have the advantage of knowing Bevan and working under him whilst I was at Pipe Networks. To be honest a large degree of my comfort comes from knowing he is the chairman. I will also say that Bevan is always the smartest guy in the room and is 4 steps ahead of everyone else, I personally worked closely with him when I was closing the Vodafone backhaul deal whilst at Pipe, and the guy is a frickin genius.. I have learnt more in business working for him than anyone else.. The rumors are true he is that smart. He is both engineering smart and commercially smart which is an unusual combination.

The reason I say this is because MP1 is his idea and he makes the core decisions. Every single business he has launched since Pipe has exploded and he has not had a single failure..look at this track record. Pipe 380 million, Next DC (he started the business) 1 billion valuation, Sub Partners recently sold to Superloop, and of course Superloop 3oo million $$ valuation. He listed two companies in the space of six months and both were a huge success.

Trust me he has also been through some very stressful close calls so he has learnt to be a little more cautious. During the global recession Pipe were building their International Fibre cable to Guam and at the last minute ANZ pulled their line of credit and banking covenant.

This almost sent Pipe to the wall because they were so exposed through no fault of their own. Bevan spent 6 weeks on International flights convincing core customers to pay for the cable upfront (capex) as opposed to a lease agreement. If they payed upfront they could pull it off.

He pulled it together at the last minute even convincing Google to stump the cash upfront (think about the commercial logistics of this during the GFC). 1 year later the cable was built, wholesale internet costs were greatly reduced and Pipe's share price was back on the upswing. Bevan sold the business to TPG 6-12 months later so he could bank some huge capital.

He has built subsequent businesses using the Pipe cash and look where he is today...

We have a great board, Bevan and bunch of very smart investors. So we are in for an exciting 3 years of growth. If you are concerned I understand, i just hope I have given you some reassurance.