capital raising: where's the incentive?, page-7

Hi all

I raised my concerns over the vagueness of the reasons for the capital raising as outlined in the prospectus in an email to management and received a very terse reply from Bernie McGeorge.

In it he implied that I was seeking additional info on the share issue (he told me he'd referred a copy of my email to ASIC) when the purpose of my email was simply to criticize the lack of specifics in the prospectus which I blame for the downward drift in the share price.

He is legally bound of course to not provide an individual with privileged information and understandably cautious about providing info to someone he described as "a self-declared contributor to Hotcopper" (I thought it courteous to let him know the forum on which my discontent had been aired) - but that was not what I asked him to do, as I believe my closing comment to him illustrates: "I hope that more optimistic information will soon be forthcoming TO THE MARKET."

Honestly, some of these directors seem to feel shareholders should be seen (once a year) and not heard. He implied I did not have the company's best interests at heart and essentially tried to deter me from further comment. I replied that I have a substantial holding in ZYL and am the last person to wish the company ill. All in all, I was not impressed with his defensiveness and what I felt was a completely misconstrued idea of the intent of my email. I was also annoyed that he did not attempt to address the substance of my criticisms and opted instead to impugn my motives for writing. In 'Debating 101', we used to call it "playing the man and not the ball."

Nevertheless I try not to let personalities interfere with rational decision-making and continue to hold pending more specifics on the uses to which these funds will be put. If your responses are anything to go by, my criticisms are not isolated ones. I just hope they do not go unheeded by management.

To better times ahead....

Gupper