Ann: BluGlass Business Update, page-17

I believe that BLG and Aixtron both have so much riding on the successful commissioning of the G4 machine in the middle of this year that it will not fail.

I consider that BLG Directors and management also have this belief.

I intend to take up my rights on this basis.

What I have a problem with, that I don't think has been highlighted yet, is the way Directors want to be paid for their 'sacrifice' of taking shares in lieu of 50% wages.

No mention was made whether management and staff received their share allocation at the current market price during the year as time progresses. However Directors are asking sharehoders to approve for them to be paid shares at the rights issue price of .02 cents at any time for the rest of this financial year, and if requires this arrangement could be extended after this time.

The BLG share price is currently 2.7 cents. If the G4 machine is successfully commissioned in the next few months then I consider that the share price will more that double again at that time.

Yet the Directors are 'sacrificing' 50% of their wages to be received in shares at a price of .02 cents each in periods when they would normally be exempted from buying shares due to priviliged information.

Does anyone read this any differently?