Ann: Appendix 4C - quarterly, page-78

P***ing in the wind...c'mon now, how lady like is that. Actually these were not my words. They were quoted from happy's post. If they are good enough for a man then they are good enough for me

I am of the belief you and your supporters don't have the numbers.
I'm not assuming anything. It is always possible that there are people who don't know me and don't care about my views who are capable of forming their own opinions based on their assessment of the business. I'm guessing there are a few individuals and institutions out there who can read an auditors commentary and don't like what they read any more than I do and who aren't particularly enthralled with Executive Director remuneration having contributed reasonably significantly to that accumulated debt of something like $60 million

I agree you have the right to voice your concerns (individually) but not as a bloodthirsty mob based on your desires. I can't be a mob - that's a collective noun. But thanks for agreeing that I can do as everyone else does - voice my concerns.

When the SP was nearing the $1.00 mark where was your ranting and carryon about the BODs. mea culpa. You are right. We should have listened to a few people. Or maybe we should have done as a few others. Sold out. Whoops.

Someone sold at a dollar and repurchased at $0.50 i believe, perhaps thats why we are all now bitter and twisted. Well it wasn't actually us but maybe you could find Redbar and lefevre for a start and complain to them. I notice they disappeared around that $1 mark.

To solicit support for a spill or a Rem No vote is unacceptable in my view. Well I take it you think it is equally unacceptable to try to convince people the Board is doing a fantastic job. Or that Gavin shouldn't be out there trying to win support. That's what humans do - you too - express their view and hope someone will agree with them. What on earth does hotcopper exist for if not for sharing views?

As for the problem that you seem to have with how I feel now - like you I don't much like a situation where I feel that I've been spun a line. I don't much like having believed it either

Ask Gavin Rezos whether he believed everything he was told as well or whether everything he presented at different conferences - like the spotlight conferences in Hong Kong and Singapore - was correct. Or whether he let things go by that in retrospect he ought to have known about. Or whether the Moelis reports, based on information from the business, were accurate. Or whether the announcements around growth and customer numbers were accurate. Or maybe ask him what we should have believed and what we should have detected as problematic and how we should know which is which.

Should we have paid more attention to the small print in the newsletters which (reading in retrospect )said something like "this isn't necessarily accurate -and things might change and don't blame us if you believe what we've written".

I didn't actually read it like that at the time but as things unravelled and rather a lot of information came out that suggested to me that the believing was entirely misplaced I wondered if it had been worded that way for a purpose.

So did I believe the company at the time - yep

Do I think the Boards job is to ensure we have accurate information - yep

Do I think that the corporations act was changed to include the concept of a strike as a mechanism to hold a board to account - yep that's what the commentaries said at the time

Do I agree with Cracker and NZDude? Yep

Do I know some people wish I'd go away and shut up. - yep and I will when others shut up as well.

If we end up with another strike and a board spill there won't be a need to refer to what has coloured how we see things. Bet there are a few people who'd be happy with that as well. Sometimes one just has to finish what others started if they won't do it themselves.

Parsifal