the cmi story, page-24

Hi All,

Sorry for the lull, I took a bit of a break but am back on the job again now. I can tell you that a shareholder well known to me, Gerry Pauley, has nominated for the Board and will stand for election at the AGM on November 19th. I have attached a copy of his qualifications and experience summary which should appear in the CMI notice of meeting. Gerry will be writing to the top 150 or so ordinary shareholders to put his case for changes to the Board. Sorry that he won't be writing to the smaller shareholders but this is being done at his own expense. As I am sure most of you are aware, the Class A shareholders have been denied a vote.

Gerry is a Western Australian and will be travelling to Brisbane for the AGM. He intends to have informal meetings with shareholders (both CMI and CMIPC) in Perth, Adelaide, Melbourne, Sydney and Brisbane in November and prior to the AGM. Once I find out the dates and times for those meetings I will post them here.

GPASAS
[email protected]

Gerry Pauley

Gerry has been an active investor for most of his life and has been involved full time in investing since 1995. In 1996 his internet site, Gerry Pauley's Australian Stocks and Shares, won the inaugural Telstra/Financial Review award for The Most Popular Australian Web Site. In recent years together with fellow CMI shareholder and barrister, (name withheld), he has taken three cases to the Takeovers Panel. In 2005, together with two other shareholders, he challenged a Scheme of Arrangement in the Federal Court and succeeded in having approval for the Scheme denied.

Gerry helped set up the WA branch of the Australian Shareholders' Association and served on the State committee for seven years where he gained a reputation for challenging poor behaviour on company boards. He holds a Bachelor of Science degree from the University of WA.

Since the current Board took control of our Company, the dividends have been cancelled and both share prices have collapsed. Gerry believes that shareholders other than the largest shareholder should have representation on this Board. He plans to do what he can to obtain the restoration of dividends for both classes of shares as quickly as possible. Gerry has nominated for the Board to give shareholders the opportunity to decide whether they want him to do this from inside or from outside the Board.