Ann: DEANCORP BECOMES SUBSTANTIAL SHAREHOLDER , page-6

Hi Morley,

You may rememeber I was also a shareholder in Zyl, still am for that matter, though not quite so many as I once held!

My understanding of how that unravelled is somewhat different, in that Mal Fraser-Clay did NOT deliberately roll the board. As you know, he funded Zylotech for some considerable time only to eventually discover that the CEO had been somewhat economical with the truth as regards the true state of Zylotech's finances, debts and prospects with regard to ststed "contracts" in place.

He was then basically tapped for more money or Zylotech would fold and he would lose the lot. He declined to commit more funds, and the rest is history. As far as I aware, there was nothing untoward in Mal's actions. He certainly did not act with malice afore-thought in an underhand way to sink Zylotech and secure the IP. He was simply caught in an invidious position and made a commercial decision to protect his interests and the not inconsiderable funds he had invested in Zylotech as best he could.

I am firmly of the belief that he is a welcome presence on the share register both as a long term investor and supporter of the company.