aon contract from 0'12, page-9

Hi Guys,

Not wanting to be negative, but that "contract" announcement was highly conditional. In actual fact there was no firm order at all in the announcement, simply that they need to order more than 100000 units in order to retain exclusivity. They also use the word "potential" in relation to the order profile.

Add on to all of this the performance and price targets and there are many ways that Eon can weasel their way out of things.

As I said, I don't want to be negative, but just realistic, especially given the claytons contract that we had with the dutch that appeared to have no-break-fee a get out clause even if all of the technological milestones were met (as they were). We all thought that contract was locked in and only contingent on technical hurdles....

Ultimately, the loose nature of this Eon contract is why it is not reflected in the current share price. Of course any concrete steps forward with Eon will see some big reaction...