I have just talked to my accountant and apparently because the...

I have just talked to my accountant and apparently because the SLR shares were paid as an unfranked dividend of $2.72 per share they are classed as income and will therefore be taxed accordingly.

So basically I will need to come up with approxiamately 50% of the value of my SLR shares at $2.72 per share and hand it straight to the tax man.

Not only did the Phillips River board sell out for a pittence they also structured the payment so that we have to pay tax on it and therefore cannot offset this loss against any other capital losses.

I'm just a wage earner so this is a real kick in the guts as my usual tax refund of around $7000 will be totally wiped out!

I've sold my stake in both and hope never to have anything to do with either ever again.

THANKS VERY MUCH PHILLIPS RIVER!!!!!!!

THE MEMBERS OF THE BOARD SHOULD HANG THEIR HEADS IN SHAME!!!!!!!!!!!