and so it begins, page-25

The bottom line is that we are far better off with the curent management in charge than giving substantial say to people who want to do a "joint venture" or similar. I think 20% of the capital justifies a claim for 20% of the directors, not 40%. It is not in the interests of shareholders to allow a minoity holder, with whom we hope to finalise a transaction, to have a disproportionate number of directors. I am all for rejecting the removal of existing directors and appointingm the two new.