Ann: Appendix 3Y - Change of Director's Interest Notice, page-6

A large percentage of retail holders of most spec stocks only have a near horizon and enter for the chance to make a quick quid. Many of them then get stuck as the SP drops and become the most likely ones to be selling at present as their patience finally exhausts. When a director keeps adding to his holding it suggests to me that it's not the time to be going against his grain and throwing away shares for peanuts. Would he be throwing more money in if he was only interested in his salary and had no confidence in future prospects? I don't think so. Not enough directors of small companies throw much money in at the best of times, so when one does when others only see doom and gloom it really says something.