results on the way, page-41

I am not entirely happy with the situation. As a significant holder IMHO they are about to offer a significant premium o what I could have bought more at. However as a NZ citizen I cannot see long term benefit in this. We must think more strategically and longer term.

I cannot fault Haier, but will not be folding until they get to about 70%. I remember selling PDL, and what remains of that in NZ now. We are our own worst economic enemies.

EL