we want options, page-16

Further to my last post I have sent a copy to BLT management with a few additional comments.

Dear XXX
Here is a copy of my latest post on the HotCopper forum concerning the private placement:.

"Despite all the plaudits about the benefits of attracting US money I still maintain that they wouldn't necessarily be getting the opportunity if it hadn't been for us long-time investors keeping BLT viable in its early years.

I'm not objecting to the Stage 1 placement - wouldn't make any difference if I did as it was well and truly done and dusted behind closed doors!

However, I strongly feel that the Stage 2 placement should not be private and I will be voting against it. At the least we should be offered a chance to acquire options.

There is no doubt at all that Stage 2 would be very heavily oversubscibed if offered to existing shareholders. BTW Does anyone have a list of the top 10 shareholders?

I suggest we stop being seduced by the price surge and request that management act in our interests as the true supporters of BLT."

BLT management could vote with existing shareholder support to direct that Stage 2 not be a private placement but open to existing shareholders - for example, those on the books as of Feb 21st.2014 There is absolutely no doubt that offer would be heavily oversubscribed.

Now you've got your technological and financial credibility recognised by US investors how about looking after us!!

Regards
XXXX