re: Ann: PRH: Proposed Merger with Silver Lak... Long tern PRH...

re: Ann: PRH: Proposed Merger with Silver Lak... Long tern PRH holders would have hped for 50 cents. The share price was over 40 cents immediately after the 1 for 8 share consolidation last year. 31 cents per share would be a dissappointment to PRH shareholders. But if they do not accept then they would have to undergo a very high level of share dilution to progress the project. This way they can gain over time as SLR goes up in value over time.

Only about 6 million SLR shares will be issued - about a 2.7% increase in the number of shares.

loki