what would the cash be end of august , page-46

recoop el, kanga

The good news in collectively I think we hold above 5% of the company. I think if you add a few more HC shareholders there is no doubt we would be close to 10% that gives us some voting power.

I remember now that I got a personal call from Greg Hancock asking me to lodge more proxies for the capital rasing resolution amd other resolutions (which included the oppies) I thought it odd at the time as I ony held 700K odd shares, now it all makes sense.

To be honest my issue is not the options, even though 5 and 3 million is a bit steep, the exercise price is at a level that would have most of us looking at 100% gain. The issue for me is that cash bonus for reasons which to me seem ridiculous .

Now back to the buy back, the franking credits would be very handy in a buy back. I remember a few firms bought back shares at lower than market prices by using the franking credits. It allowed most super funds to end up with a better grossed up return than the prevailing SP and the company to buy back shares very cheaply. Surely COE could do the same.

if MS doesnt listen to us, we can threaten to oust him and put Tony Monero in his place, at least that way we would get our buy back and maybe a dividend:-)