Ann: Murchison Shareholder Update , page-3

the.frack,

not really it was inevitable that this would occur. The good thing being that the MD resigned rather than being terminated which may reduce his payout.

What this has done is that it has now saved approximatley $170k per month for McKenzies & Martin's wages. Over a 3 month period this adds up to over $500k.

From my perspective the revised return to shareholders which will be announced on the 21st December will be well above the $0.045/share + the Cashmere stake.

What I would be a little dissapointed with is if Sir Ron were to purchase the Cashmere stake into MVT at book value instead of a fair value.