9.5% holding [plus the recent top up] is not an issue on the...

9.5% holding [plus the recent top up] is not an issue on the whole. There is still 90% that can vote against it. There are a number of major shareholdes that are similar aligned in their strategic thinking to Europe/USA that would have more shares than Shenghe. Its just a few more phonecalls.

The question should be asked is whether the Directors and Board are doing a good enough job and whether the three directors should be elected at the AGM.

Have these Directors made good decisions?. Are the deals outside Greenland good ones? We have our doubts on some of those in management and this is perhaps what should be questioned by shareholders.