LZA,I agree there would be no financial difficulty for the...

LZA,

I agree there would be no financial difficulty for the company to pay the dividend that CMIPC shareholders have been told in the constitution that they are entitled to. The underlying profits are at least double the size of the full CMIPC dividend entitlement. The company has very strong cash flows and a total of $1.1 million in debt.

Yes, the directors have discretion over the dividend although there is some question as to whether that discretion applies on to whether or not they pay more than 14 cents and that 14c is an entitlement. Irrespective of this, the word "discretion" also means to act responsibly and to use judgement. I do question whether cancelling the CMIPC dividend when you own 36 percent of the ordinary shares is discrete.

I think that there is a fair amount of lobbying going on between shareholders and the Board right now and this will no doubt continue through and include the AGM in November.

GPASAS