resolution 9 removal, page-13

"Tarecq - I suggest you re-read the wording of resolution 9 in the text of the letter that was sent to the coy requesting the meeting."

I have read it several times

I suggest you re-read the announcement that followed where the company requests some clarification as to how this option re-issue will take place in compliance with the listing rule

Then I suggest you read the post where I have (in a couple of threads) published the exact same response that was delivered to the company.

In this response it is made crystal clear that the issue of options will be done in a way as to replace the existing options. There will be no more options than there are currently trading on market.

Our issue is that they have not considered our response and instead chose to ignore it. Why did they seek clarification if they were going to remove the resolution regardless of our response? If it wasn't clear why did they not seek further clarification or contact us? especially as they have 3million options of their own! Clearly, there was some pressure from the Indians

To save you looking back to find it I will paste the relevant section of that response here -

" The new Board proposes to REPLACE current listed options that expire on 27 November 2009 (the "*2009 Options*") with new, listed options with the exercise price reduced from the current 20 cents to 10 cents per option. The expiry date for this new class of option ("*2012 Options*") will be 27 November 2012. Shareholders will pay $0.001 (one tenth of a cent) for each new option which will replace their existing 2009 Options. Option holders who elect not to take-up the 2012 Options will of course retain their options in the current option series. The issue of the 2012 Options requires shareholder approval, which is the reason why the meeting requisitioners have proposed resolution 9."