Ann: Papyrus engages MAP Capital Advisors , page-3

ho hum indeed!

Did anyone else notice -tucked away on page 6 of the half yearly, the following....

"In January 2013 our Dutch partners in the Yellow Pallet concept advised that they were not able to proceed with the project without additional funds being committed by Papyrus and which the Directors of Papyrus were not prepared to accede to at present. Accordingly the project is in
abeyance while the future of the project and administrative arrangements are being addressed."

So, that's another PPY scheme quietly down the gurgler!!!

MAP seems to have a smorgasbord of objectives:

"Firstly, to provide the Board of Directors with an independent strategic view of the position of the company and the opportunities available to better exploit its intellectual property.

"Secondly, to assist the Company in its discussions and negotiations with existing joint venture partners,and those introduced by MAP Capital both in Australia and overseas.

"And, thirdly to advise on appropriate capital raising approaches in the short and medium terms to improve
shareholder value in the Company."

Here's my free advice- firstly the company is cactus;

secondly- the company loses about two joint venturers a year, half of whom go on to develop aspects of the technology without PPY involved. So help with negotiations is always welcomed- indeed required- maybe PPY should buy some shares in Hayot and Tout Bois etc- best and only way to capitalise on the technology I can think of!;

thirdly- another capital raising will inevitably be at a discount so is rather unlikely to improve shareholder value.

There! PPY have probably got 25k left by now- send to at at.........