Letter, page-21

Kit

I agree with you in parts however tomorrow we will all know the vote. Personally imo we will struggle to get change under this AGM, the support numbers are too big and not every holder would know what is going on or have been communicated to or even voted. The 249's are a much better process to achieve any chance of change.

I disagree with one fundamental point is that our board have underperformed and made huge mistakes and these actions have directly effected our investment imo. If they are successful in remaining then they have to urgently address their performance and improve.

It doesn't matter whether you support change or not, the company has to urgently improve and quickly, if they don't then we are in for a very difficult 2017 imo. The last thing we need is the same over the past 3 years. We are a target for T/O imo and at a very cheap price and that is my biggest concern along with our current financial situation.

No matter what happens the sun will still come up on Friday and all the very best and good luck to all holders. Personally over it all, can't wait for my holidays. A big thanks to those who supported the cause for change and a very big thanks to the 3 Nominees who stepped up and tried.