Ann: Top 20 Shareholders and Distribution Schedule, page-9

I think it is just temporarily, hopefully in July, people will return after tax time. It's quiet market overall last few days. There is a big buy at 76 cents and now if someone wants to buy in, will have to be it at 80 cents (10k volume there). I still think someone keep try to sell down and put a buy at 77 cents and sell at 80 cents (just trading and accumulating), so most holders see through it and just ignore it.

I am planning to top up sometime in August when I am able to free up some cash to average out my price, but what I hope for is that after 6-12 months passed, we still have sufficient 10% blocking power and if RG wanted to grind down Pact and relist it again in the future then he has to make a better offer and TIC founders approved to that price and we all pick the final cheque.

I was thinking the RG guy spent almost $100 mil plus up so far and he got stuck with it. I agreed with Borg that rich people don't want their money to get stuck so either he will enter the second bid or restore the company's profit or pay dividend to get his portfolio back up. What can 88% do really? He needs to privatise it or push the sp up sooner or later or wise the more it sinks, that means he got stuck and lost the monetary value of his investment money (a lot more than us).

Can any one think of what is the nastiest situation that RG can do after 6 months to take this company into his pocket? I think he could make us wait and wait forever and that's about it. Over PPG, it is similar situation but a while ago, the company entered into a debt situation and required a capital raising, and he put his fat finger in there to bail it out. I suspected that from his motive, he would want the best of everything and buy at the lowest price but for sure he won't let either companies go bankruptcy. He doesn't want to go bust either even if he loses the money is what I am saying.

I think the worst is over and just be patience up a bit. Just my opinion.