Ann: Amended March 4C, page-89

Disappointed the sell side was not materially shifted by this announcement. Sure 7.5m shares traded but that is below the 3 month average daily trading. I was definitely expecting more than a single pip move and a rebalancing of the buy-sell spread.

Presumably reflects concerns over the longer term implications of convertible finance and I would suggest a lack of confidence in management due to the long delay in securing finance in the dire times. I also presume that the fact finance came in the form of a speculative and risk geared vehicle as a CN is means that the market feels it is less of a vote of confidence than say a more basic loan would be.

Hopefully get some cash +Ve deals inked soon but even these may generate a more muted response than most of us are hoping for.........depending n the figures involved of course.

Would love to hear some unemotional comments, thoughts and ideas.