and so it begins, page-44

For the benefit of CAP shareholders on this forum, can Mr McCormack explain:

1) Why Silvergate wants to remove 2 CAP directors, Mr Cholakos and Dr Williams?

Nick Sheard has stated CAP was happy to give Silvergate its 2 seats, on top of the existing 5 directors.

Should Silvergate succeed in its resolutions, CAP would have 3 nominee directors, just 1 independent and the chairman.

2) If Silvergate/ASI is so wealthy and interested in Hawsons, why has it not simply acquired a 40% stake in the project directly from the liquidator of BMG?

3) And with regard to (2), why will Silvergate not make an open takeover offer to all shareholders?