Ann: Shareholder Endorsement of Beston Strategy, page-2

"Majority Shareholder Support" while probably technically true against the absolute numbers the voting result was hardly a ringing endorsement for the Board or the way they have managed the company.

Personally I will not be subscribing to the entitlement offer - while I appreciate the logic of an argument that the company needs the funds to advance the current strategic plan I have essentially no faith in the BOD/Sexton's ability to achieve anything based on the history of BFC - it has been one disaster after another with swathes of shareholder equity simply wasted.

With the current share price at 6.6c if (and it would be a very big if) I was going to contemplate any involvement in the CR I would certainly want a much bigger discount than the current 0.1c.