Ann: Resignation of Directors, page-8

The board was more apologetic, and mentioned many times that they were doing all they could to get back on track. They spoke of the 70 mil, and had some opposition to that.. (A lovely old couple who were down round 80% on investment..) they said their core business was solid with repeat business being their strength, and they mentioned that that hadn't changed, so they were solid, paying down debt as much as they could and negotiating their debt covenant.. They emphasised that they paid down their U.S. Debt most, as the exchange rate was not great.. This reduced their overheads..

I spoke to Brian about India, he said it would not be another China, but mentioned that they have a new low
Cost foundry their that would add to the business as China has, and mentioned that their China opperation was working at capacity..

They also said in the presentation that they thought the bottom of the mining downturn had happened, but then the iron ore glut and oils price collapse had sent it all downward.. They said through many conversations with many specialists, they still could not pick the bottom,, or predict what is happening, but they were solid...