Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-37

> As far as a takeover goes - at the current price it has to look like a bargain, but you also have to have the insiders going with it and hard to see that happening at the current price. A hostile takeover has no chance as Geoff Lord can almost block it on his own. Of course if they see the value in a merger with another company where they retain shares in the merged entity, I could see that happening. Often egos get in the way of that kind of deal.

Speaking of egos I was thinking about this over the weekend. There are a lot of grumblings here about Geoff Lord being on the board and a desire by some to get him booted off due to poor shareprice performance.

With his 8% ownership what would be the impact on shareprice if when booted he decided to take his bat and ball and "go home" by just offloading all his shares?

Not saying he shouldn't be held accountable for the poor price performance or the shareholders be held hostage in the fear he weilds too much power on the potential price.