Ann: Acquisition of Australian Petro Chemical Storage, page-34

1. SH holds over 151 million shares. Using a $2 share price, that's A$300,000,000. He doesn't pay himself excessively, and there's no bonus component / executive share plan. He may have a bit of money outside of DGL, but you are delusional if you think he is not aligned to shareholders.

2. He gives a shyte. Way more than you.

3. He never promised to not make an acquisition. He said it would slow, and so it has. I don't know if you can count, but here is my list of acquisitions.



4. He has created a once in a lifetime opportunity for vendors to buy back their businesses for 25c on the dollar. Kerry Packer once said, "you only get one Alan Bond in your lifetime." The stock market is Alan Bond in this case as it has created a chance for a vendor to sell their business at $2+ and buy back to $0.55.

5. He believes growing revenue, growing cashflow, growing earnings, growing NPAT, on an absolute basis and on a per-share basis is the best way to get the share price up. If you don't like this approach, please leave and don't return. If you like REITS that don't grow and just pay rental income....head there!