ppy a no brainer, page-4

Hi all,

I think this discussion on the properties may be a distraction from the more immediate priority of protecting IP and getting the process working to sell veneer products. The TV programs and the yacht show in Monaco seemed to show these properties pretty convincingly.

I think all of us were attracted by the story and the potential but the delivery has been far less convincing.

We have heard nothing about old customers/partners in Europe or Australia and PPY seems to have a lot of its future mixed up with Egypt.

The media interview in the US is no substitute for keeping the ASX investors fully informed.

The latest capital raising details and notice of a General Meeting sent today give a mixed message:

http://www.edocumentview.com.au/ppy2/2011/662/default.htm?voting=false#p=1&c=0&v=1

Taylor Collison clients, MD Ramy and Chairman Ted Byrt get an attractive deal which the other ordinary shareholders are denied with no matching rights issue. Interesting that none of the other directors were prepared to front money even at this price with free options.

The insiders pay 12 cents for their shares and get a free option 1 for every 2 shares bought. They can exercise these options for 12 cents anytime before March 2013.

This desperate capital raising has effectively trashed the sp and given a massive overhang around 12 cents.

The GM motions should be voted down until ordinary shareholders get the same offer in a rights issue.