Ann: TNG Board Election of Chair, page-8

I truly think the way this 249D and now AGM worked out was the very best outcome and process the market could see.

The 249D was ok for AR but very close for GW. PB and NB survived but already some changes were done by NB in due process.

It was clear major holders either supported current management or abstained. Even AR today said one of his best associates x Deloitte voted against him asked why he did not like change.

Fast forward come AGM NB disclosed a lot of things that seemed to sit behind Door Number 3 and PB seemed to be hanging in there. Now GW puts his name up for Director at AGM and today we see the 96% vote (MANDATE) for him. This is very good as it was not a 249D rolling the Board and axing CEO/MD etc. It took its natural course and Major T20 and 96% voted for him so the election was a great message to market happening this way.