Ann: Change in substantial holding from JBL, page-2

Shareholders, don't get worried about these announcements. They are a trickle and want to create herd mentality. 

I know most people in this thread won’t accept but for those confused and thinking they can get some money back by going with JBL......DONT ACCEPT.

The target statement is bound to advise shareholders to accept unless a better offer comes along. This is a joke as we are not getting the initial reasons for investing in JBL and BHD with what JBL are offering.

Stuart obviously finds his behaviour acceptable but the ASX does not think so and the interrelated dealings has gone beyond being sensible.

When we see the target statement, we would in a normal world see an argument to reject and outline how HML or BHD can create value for shareholders by sticking with their core business and how they can make money in a volatile market (which Stuart in the past has flourished in). But in the last 6 months we have seen, stagnant investing and value erode (NTA). Stuart has dropped the ball and his ego has got in the way of his key skills in being able to read the market and make decisions we would normally be proud of.

We (shareholders) are collateral damage and the main shareholders should be questioning all this bad behaviour. In Stuart's eyes, I believe he thinks how can we clean up this intertwined mess. Well it’s not that easy because shareholders won’t be accepting in droves.

A message to Stuart, wake up and smell the roses, get back to your knitting and focus on making money instead of having meetings with lawyers, accountants, commercial bankers.... you are burning our money not making it. You have talent but just need to refocus back onto the markets.

I cant wait to see the target statements… stay strong and don’t accept.