Ann: FGF: Update on Investment in Zyber, page-14

Rules on this have been significantly tightened. It's a couple of times now ZYB attempts at acquisitions has been thwarted. Clearly ZYB isn't interested in the lengthy pathway and cost now required to make an acquisition, they've been looking for the easy way. No such thing anymore. Shells do not reach anywhere near the value they used to and this is one of the reasons I believe the whole speculative sector has been in the doldrums the last year or two. Different dynamics now. ZYB has nothing.