In reply to your questions Haz:- Can you please elaborate a bit...

In reply to your questions Haz:

- Can you please elaborate a bit more on the source of the tension you observed. More specifically did it appear Paul Brown was hitting them in a sore spot which Rex was trying to squirm out of or did it seam the tension was a flow on from the general meeting?

I didn't notice any tension before the meeting, actually I didn't notice the Browns walk in - they must have slipped in just before the start of the meeting. 

I don't recall any tension during the general meeting as there was basically no interaction or chance for the Browns to talk, it was very procedural ie. here is the resolution, here is why we endorse Rex (the directors), here are the proxy votes to date now give us your voting slips now wait for the result (while Computershare counted votes).

The tension started pretty much at the very start of the AGM, after the first resolution was read out Rex asked for questions regarding the resolution.  Paul Brown had plenty of probing questions with lots of detail one after the other.  I certainly would not say that Rex was squirming, it was more frustrating at the detailed questions. As I mentioned before I did notice Rex talking with the Browns after the meeting and I sincerely hope that that relationship can heal.  This is my observation only and I could be off the mark, but I suspect that the Browns won't follow up on  the 249d further than holding the directors commitment to find appoint a new high profile chairman as per their assurances at the AGM, they appeared a little dissapointed but accepting of the shareholders vote (albeit many of the votes may have been from Vimson!).

- secondly, was any questions asked about management’s lack of purchasing of shares on market. I ask as I feel them doing this would greatly support sentiment going forward.

There were no questions regarding management not purchasing shares on market.  I don't know anything about their personal financial situations however I guess they are all aware of their upcoming loan repayments which would tie up a lot of capital. 

The more I think about the directors loan's the more of I believe that it is a big balls up!  I get why they took that path but it would have been MUCH better to issue options to prevent the need for directors to sell on market if the loan shares were out of the money (no one will lend on shares so out of the money).  I am sure that the directors would have liked to ask the shareholders for an further extension to the loan but must have been scared due to the negative sentiment towards the company from HC - but I honestly believe that they should have requested this as I don't think its a great look to see directors selling on market like ex. director Crow has done recently.