Ann: Updated Timetable for Rights Issue-CDU.AX, page-5

Hi Buddy,

Can you answer this one for me on shorting.

CDU has 5.2m. shares on the ASIC Shorts Register at the present time.

Qualification for Righs can only be allotted to the names on the CuDeco Shares Register as at 15th April, 2916.(perhaps a 2nd Avenue isto do a deal with the Underwrier if he has any to distribute after existing shareholders buy their wants - Subject to CuDeco Board Approval).

So the person/s who lent the shares initially have lost them. The shorter/s has the money from the sales after on-selling the shares. The buyer/s are the new owners and qualify for he Rights.

So neither the original lender/s nor the shorter/s can be on he Register for the CDU Rights issue.

Have I got it right?

cheers

Max