Ann: Further Information in relation to Genorah Loan, page-25

Jaz, if a buy-out of minorities occurs it will be based on a valuation of the asset. Therefore the expiry of the options will make no difference to the amount that Jin Jiang pay out. The difference will be the dillution ratio which would affect the price paid per share ( and option if applicable) The only tactical advantage that Jin Jiang might have considered by deliberately running down the clock on the options would be to attempt to wrap up a quick buy out of minorities with nervous option holders capitulating and accepting a low-ball offer that at least included purchase of non-expired options. If that was their tactic it has back-fired in sensational fashion and besides it is too late for that now. They have gone onto making one official misprepresentaion after another which is putting them in an increasingly tenuous position. It is difficult to imagine how a powerful entity like that with a history of takeovers of foreign assets in free markets could act in such a clumsy, amateur and ostensibly inexperienced manner. They have clearly underestimated this situation and it will be interesting to see what comes next. It makes one wonder how often minorities are trampled over, but it wont be happening this time ! Those of us still here are a dogged bunch with the benefit of excellent leadership and coordination. Our patience and tenacity will be rewarded.