re: Ann: Chairman's Letter to Shareholder... NHC exercised its...

re: Ann: Chairman's Letter to Shareholder... NHC exercised its rights as a shareholder. It wanted a new Board. A meeting was called, persons independent of NHC were nominated.

The great majority of the DTE shareholder base voting, voted in favour of the appointment of these Directors.

Yes, these Directors will act in the best interests of all shareholders.

If you want to sack a Board, you have to nominate replacement Directors. NHC located and nominated some strong independents.

The only alternative to not doing this would have been to remove the existing underperforming Directors and not replace them - and to leave locating replacement Directors to the Board that was left. This is not practical nor in the best interests of all shareholders. DTE would have been left with an ineffective Board, and depending on the Constitution, potentially without quorum.

NHC do not control DTE. They are simply a material shareholder exercising the rights that are also available to you and I.

re "act for other shareholders". NHC cannot do this. A better DTE Board benefits all shareholders. NHC does not control the Board.

It is not on New Hope to explain their vision for DTE, this is a matter for the DTE Board.

There are some good resources on the web that set out function of Board; difference between Board and management; and shareholders rights etc. Let me know if you would like a pointer to one or two

cheers