Marc,"Neil Youren, Director of Monash Capital made the statement...

Marc,

"Neil Youren, Director of Monash Capital made the statement “ECT’s expertise in commercialising technology is an excellent fit.”

I dont think ECT are at risk of an early take over. Monash need ECT to run the show...they are here to profit from the high margin modules imo...Remember too...Monash/friends are merely the first CSI...likely a more significant existing energy player CSI will emerge at some stage...after having to buying on market haha!

If res 2 was absolutely crucial to ensuring everyone was happy - I reckon Monash would have made sure res 2 received the royal unanimous director tick and then proxies would have ensured its success.

But Monash did not push that line in the first place and now that res 2 is gone - we must assume Monash are ok with it.

Obviously ECT made sure of the legalities...eg we did not have a contract for our committment. We offered to put the $$ then and there in a holding fund....and the sp was 0.6 at the time. So we understand the moral issue.

However - as the Friday ann said

res 2 "will be withdrawn as not being in the interests of shareholders to proceed with this placement following the substantial rise in the Company’s share price"

I think thats the key....eg

Say someone had $42k in res 2....now it would be worth:

ESI 7m x 3.1c = $217,000
ESIO 3.5m x 2.2c = $77,000

Total $294,000 (and likely climbing) for the original $42,000 outlay. Realisticly, because res 2 did NOT have the original Director tick - s/holders were always 99% going to vote it down.

Glenn has been upfront all the way through stating from the outset that res 2 may not get up by the time the vote happens. Hope Glenn continues to be involved with ECT. He has been crucial to the turnaroundstory.

Rupe is trying to look at ALL angles - fair enough. Its no good having your head in the sand. We have seen ECT get thattttt close before and it falls over.

Anyway - the above is our view. I dont want to get into a argy bargy debate...fact is its gone.