q&a snippets from agm question time, page-2

Novabux, this nexty question and answer snippet was what I was thinking when I responded to your post saying that I in turn would respond.

This next Q&A came straight after the previous one I posted.
This woman was obvioualy ethnically Chinese. Now have a think about that and have a think about that she is there to ask this question. It sounded rehearsed and memorised. So she is there at the meetin being given admission as a shareholder or a shareholder rep. Is this the sort of thing a shareholder, interested in knowing more about the company and its long term plans, would ask?

Nick handled this very well. As I mentioned to you. It's very obvious there is an agenda. The agenda is political as Nick has said before. The Malay Malays are being used as puppets and to ask really dumb questions and take the idiot stance and be stubborn in the face of the truth while the Chinese Malays provide the dollars.

Once again, the below is my recollection only.

QUESTION

My name is Ping Si Li, I am representing a shareholder of a company. You are no doubt aware of the strong opposition by not only the resident of Pahang but th entire nation against the Lynas plant in Malaysia

Now since the inception of the plant until now, Lynas has been embroiled in one legal action after another. Even as I am speaking now there are several legal actions still pending from the Federal court to the high court.

Now given the depressing financial position of the company, how is it, how is it financially justifiable to continue maintaining and defending the legal action? And how much legal fees, legal cost has been spent? And how much will legal fees be spent before it is not viable to continue operating the plant? Thank you.

CHAIRMAN

We’ve been….two comments, two comments and then ill finish…..

One is, we are not bringing any of these actions. We are defending outrselves against actions, other groups – I don’t know where they’re funding base comes from – continuously bring.

5 times now we have been successful in defending ourselves in the highest courts of the land. The same actions seem to be going forward all the time.

I believe that’s politicized ahhh activity. But we have no choice. And it is in our shareholders interests….and regrettably we have no choice but to continue to defend those legal actions. We have the means to do so and we will continue to do so in the interests of our shareholders. Thank you for the question.

Mr Tung trying to interrupt here:

What about the defamation suite that you brouhgt…..

CHAIRMAN

I think on that score, ahh I think we’ve probably exhausted the genuine shareholder questions (audience laughs) umm and we can probably move on.

Thank you very much for your attendance today.