Ann: Update of put option and loan repayment recovery, page-85

imagine how Elders growers felt when their trees were sold to Santanol cheaply . Santanol now sells oil for 3000 a kilo according to Bloomberg article 2015.

The company needs minimum 100 million capitalisation. Sales will not be there for three years as well as investors for a year or two. It will also need to get leaner. It cannot promise 15% before tax returns more like 10% easily. No more Put options unless modelled properly against revenues. Shareholders maybe able to sue for those if that element of selling was not known. They should have modelled those Puts against cashflow and been aware of the one coming up when capitalisation happened a year ago.

nothing short of a cash overwhelmed Arab prince or a money laundering multi billionaire Russian oligarch can achieve this and even then they would expect FW to hand them over fifty percent of his plantations!

Must remain hopeful .