Ann: Quarterly Activities and Cashflow Reports, page-18

The 5 for 2 rights issue was strange enough but the latest announcement with the 20% fee on top means that the conversion price is .35 cents( .44 discounted by 20%) and loans from employees...CTL is really going down the gurgler........We have gone from being beholden to Twiggy to the staff at CTL at a pittance....there will be billions of shares out there or the tea lady or whoever will be the next owner

Cannot vote for this as it is far too weird.......and a vote in favour is also approval of it and the management

Maybe if it is heavily voted against Gandel will remove CEO/Chairman and start again.

Continuing with the same is not going to work as if they can only obtain finance from the tea lady then the company is doomed with the present management. We need a change of management...they have performed abysmally and if it wasn't for the fact that the CEO is the Chairman then the CEO would have been sacked ages ago and maybe we would not be in this position.

A vote for this is giving the CEO a tick of approval as well and he should be fired