n. sound increase holding, page-8

This notice can only increase such an outcome DK imho as a reasonably high proportion has been going into a strong holders hands at this level.

North Sound have already shown how tenacious they are with their investments with Afplats so they will probably hold for a while yet.This can only result in better momentum of the sp when it does start to move come the annmnts we are waiting on.

Asx instos will be watching for these annmnts as they will not take on the risk of anything thats not a sure thing.Trouble is they could well be paying much higher than needs be if theyd jumped in earlier because O/Seas non-risk averse investors have taken up what they could have.Thats allright though cause it might just end up in giving us a higher sp than we thought we'd originally be looking at.

d.