Guys,I went to the AGM and asked many questions during and after...

Guys,

I went to the AGM and asked many questions during and after the meeting. I spoke with the chairman, Geoff Donahue, the MD - Daryl Stevens, the CFO - Bert B., and the Ops Manager. They reduced expenses by outsourcing via Indonesia, cut head count back to 90, have a strong order book for the next 6 months and outlined to everyone where the growth for 2012 will be coming from. All the Essa board and management were singing from the same sheet.

I think the offer is totally unacceptable after listening to this and will be writing to Daryl today. I cannot believe they have entertained a bid at this level after telling me how positive 2012 is going to be.

I wont accept this offer in its current state, they can take my shares by compulsory and I can tell you this, I've been accumulating this stock for months and I'm holding a few.

As for the 60c-13c. I see it like this?

The capital gain will be calculated on 60c not 73c and the 13c will come with the massive amount of franking credits they have accumulated.

So 60c + 13c + 3.9c (franking credits)

Pep
:)