19.9% clarity needed, page-11

Hi surandy,

Just got home. Spoke to Ian Gregory this afternoon regarding this.

apparently when the 1st was done it did not register as 19.9% as it diluted itself down to only 16%. So a 2nd placement was done for the extra 3.9% and was the 22M in todays ann.

Because of the 1st mistake on the way it was worked out the 2nd needed to be done to rectify it he said.

This was done hopefully to the Asian connection of more contacts that may invest in KEY as to JVs etc and raising further capital when needed.

So far I see that this has not impressed the market any and in my books its a worry of a new investor coming in for the full 19.9% holding and only a knock away from a TO at very cheap prices.