History and Outlook, page-77

Well , sorry to be a negative poster but I am not convinced that AZZ will come out of suspension - I am concerned that like a few of its other deals the deal just evaporates as it cannot settle . That's the reason I got out when the deal that was approved by shareholders was supposedly cancelled by the board. I just don't believe this company anymore. I truly hope I am wrong but I am concerned that others have done what I did and invested thinking that the risk was hugely outweighed by the opportunity only to realise that the gap was there because of past behaviour.

At the time I thought that LOTM must be wrong ... I truly hope I am wrong - because there $120 million on the line and a whole bunch more ...