Ann: Sale Complete of Ineligible Shareholdings from POS Merger, page-27

The markets were in the past and unfortunately are also in the present manipulated. Whether FX, Rates (such as Libor), bonds, commodities or stocks. The regulators do unfortunately very little about it globally. Whether its incompetence, ignorance, laziness, bribery or a combination, I honestly don't know. My point is, that HRZ is in a position, which probably doesn't require any equity raise in the next 12 months. So even if the price of the shares will be suppressed for whatever reason (market sentiment, big seller, manipulation) for the next few months, it will not materially hurt the prospects of the company. If the management will deliver what they plan to do, the fundamentals will be overwhelming and will push away any sort of share price suppression. I don't agree with market manipulation, but the bigger the market cap of HRZ gets and more volume is traded, the harder it will be for anybody to move it in their direction. I plan to hold the shares for the next 2-3 years minimum, so I am primarily focused on the price in that time frame and do not get too much excited or sad because of some short term movements. Obviously if anybody has some good proof of manipulation, lets report it, but I am not too much optimistic, that anybody from the regulators will do anything about it.