Ann: PTN acquires substantial interest in Emmerson, page-32

I am no fan of Delphi and think it would be difficult as a foreign entity to take over PTN outright.

They do have significant influence which time will tell if it’s positive or negative, on face value the PTN/ Delphi investment in other companies has provided much needed capital in a difficult cash raising environment.

Not sure if it’s a positive for PTN holders but it’s a relatively small amount of the overall company.

As for MAT they currently own just under 20% not 50%, not sure how that will play out but if they don’t succeed they can sell for a decent profit. I feel there’s another chapter to play out otherwise it’s all bit odd.

There is lots of non organic growth in the the gold sector M&A etc everywhere, dangerous seems a bit dramatic.

It’s not that I don’t emphasise with shareholders on the bad end of deals but the stock market is not a social club, it’s ruthless.