Ann: Managing Director Statement to Shareholders, page-21

Having lived in the Middle East now for 12 years I can say, Egypt and Egyptians are extremely difficult to work with as their disposition as business people is completely different to say the West. From reading the story it wouldn’t surprise me if Ramy has issues with authority, AB would have brought a new approach, alternative ideas and he couldn’t handle it. Moreover I anticipate that Ramy also had trouble with ASIC rules and protocols. Egypt is the Wild West still when considering how business is administered. With all the grant money and SH funds now exhausted it leads me to think this is the end of the road now for PPY.... but not necessarily Ramy with his machine and factory over there in Egypt.