Ann: Shell Buy-back Update, page-5

PSI

My experience is that most instos, who hold their shares via Nominee Companies, will vote via proxy and the usual level of shares within the audience at the GM is relatively small.

That being said, my experience is with Co's a lot smaller than WPL but this is offset by the Perth meeting, which will not be heavily attended by the big end of town.

I would expect that this will now be voted down, which is a bit silly in my book. As a long standing holder in WPL, it would be beneficial for all to have Shell off the register. The share price movement today would act in support of this.

No pleasing some people. Vote it down as it is a "bad deal" but then watch a share price decline on the negative vote.

Cheers, Al