I am ONLY putting this up as it doesn't appear anywhere else....

I am ONLY putting this up as it doesn't appear anywhere else. For the record, I have not voted as Mr Galbally suggests, tho points 15 and 16 are germane and 13 relevant.


Dear fellow Green Invest Shareholder,

I have enclosed a letter to the Chairman of the board of directors expressing my concerns and lack of confidence in the board restoring shareholder value.

Please read my letter carefully.

Time is running out for Green Invest and I fear that the board is embarking on a strategy that will further destroy shareholder value.

There needs to be change and a rethinking of the company's strategy and business model. I also believe the company needs stricter corporate governance and an audit committee independent from the executives.

Accordingly I seek your support in my bid to be elected as a director of Green Invest Ltd.

I hold a substantial number of the issued shares in Green Invest Ltd. I am a principal of Southbank Capital Pty Ltd, a corporate advisory firm holding an Australian Financial Services Licence. I have a range of business interests and have been Chairman and Director of many ASX listed companies in the past. More information about me can be obtained at www.southbankcapital.com.au

I also urge you to attend the Annual General Meeting of Green Invest Ltd being held at 10.00 am Friday 16 December 2011 at Level 3,480 Collins Street Melbourne.

Vote For Francis Galbally as a Director

Vote Against Peter McCoy as a Director

Vote Against adoption of the Board's remuneration policy.

Yours Sincerely
(signed)
F. W. Galbally
--------------------------------------------letter starts-------------------
28 November 2011
Mr Peter McCoy
Chairman
Green Invest Ltd.
Dear Peter,

I have lost all confidence in yourself and Ron Lunt in turning Green Invest around. The company continues to bleed and there appears to be no coherent plan to return to profitability. I have put my hand up to be a catalyst for change because I believe that without change the shareholders will lose whatever value there is left in the company.

The facts are:
1. The company accounts have been qualified by its auditors on a "going concern" basis for the 3 years under your Chairmanship.

2. In the financial year ended 30 June 2011 the company lost $809,000 and had net cash outflows of $1.33m. After allowing for the tax gain from the sale of NextGen the actual loss would have been $1.6m.

3. In the 2010 financial year there was a loss of $600,000. The actual loss would have also been $1.6m after taking into account the paper tax gain.

4. In 2009 as Chairman you oversaw a loss of $2.97 million.

5. You advised in the annual report for 2009 that:
"the Group is well positioned to take advantage of the many opportunities it comes across each week we remain confident about the future prospects of the business."

6. In the 2010 Annual report to shareholders you concluded:
"With a strong platform, the Group is now well positioned to take advantage of the many new opportunities. The key to many of these opportunities is the strong relationships the Group has managed to build over the past 12 months."

7. In the 2011 Annual report to shareholders you conclude as follows: "With a strong platform the Group is now well positioned to take advantage of the many opportunities now presenting to the company. The key to many of these opportunities is the strong relationships the Group has managed to build over the past 12 months."

8. Over the past 3 years the board has failed to take advantage of the opportunities referred to in its annual reports.

9. Twelve months ago the company sold its main asset and undertaking, Nextgen. The transaction was never put before shareholders and questions must be asked about both the timing and commerciality of the deal. The company survives on the proceeds of the sale which support the salaries referred to below.

10. The continued losses aren't sustainable.

11. The company has a weak cash position.

12. The company has been involved in many legal matters. Please advise the total legal costs over the past 3 years.

13. You have identified with Ron Lunt certain opportunities for the company in the US. I cannot accept that the company would gain in the short or medium term from investment in the US. A US venture in my view is just folly, particularly when the company cannot get its Australian operations in order.

14. The company has changed senior management and its financial officers and auditors regularly. The company has had 3 financial officers and 2 auditors in 3 years. It has just recently parted company with a senior executive responsible for the bulk of the company's revenue over the past 9 months.

15. In the 2011 financial year you received a fee of $180,000 and Ron Lunt $240,000. How can these be justified in view of the company's performance?

16. The company has just appointed a Chief Operating Officer. The combined salaries of the 3 most senior executives is now well over $500,000. Green Invest doesn't have the profitable business to justify this expense.

17. The acquisition of the 1,000,000 Edwards shares by Anglo Australian Mercantile Pty Ltd (a company related to you) on 9t September 2011 is I believe a matter that I consider should have received prior shareholder approval.

In summary the company's performance necessitates urgent action and reduction of costs.

Yours Sincerely
F. W. Galbally