Ann: Requisition for a General Meeting of Shareho, page-6

re: Ann: Requisition for a General Meeting of... Whilst I dont support LCE in this matter. My reasons remain the same. You cannot compare the LCE share price it is so tightly held you can make it anything you want it to be. In addition the CCI sale to B Veritas is the driver of a significant portion of the change in price. In fact the LCE share price in 1990 was 43c so it has not moved effectively since then. I hate graphs it tells only one side of any story. Noticeably they dont show trade volumes.The graph

This is not about LCE and or CCI. The CCI deal was a good one but it seems to be the only thing that LCE can hang their hats on.

I agree with LCE's view on handing the directors approval to issue shares. I would vote against that resolution. However I am still opposed to LCE getting its way here and will be asking them at the meeting and trying to get it minuted for them to give assurances that they will not seek appointment of either LCE or Belmont in any management or advisory role.

I also agree that the company may well need a capital raising and I would participate in this but we need more info from management hopefully they can give us some guidance re the full years results before this meeting. actually to criticize both parties they should have settled on the one seat and waited until the AGM to have this fight.

I still cannot see how LCE did their homework and it all went pear shaped as they see it. I would have expected more robust negotiations at the time of taking up a strategic investment after all this was only late November 2008 we are not talking about any length of time. At the time of taking a strategic investment and underwriting a share placement I would have thought it wise to secure a board appointment as they were to be a cornerstone shareholder.The gearing was already there and LCE could see all of this at the time of investment, even the 1st half loss was noted at the AGM before this capital raising. In addition Mr Murray goes on a road show in March 09 but still has not resolved anything and has concerns. Even at that point LCE has no commitment for a board seat.The only thing I can deduce is that LCE sees the value and thought that these events may well play out this way and were ready for the good fight.

We now need to see any reply that is forthcoming from PSH - I presume they have the right of reply.

Disclaimer: I take no liability for the accuracy of my post. Do your own research prior to making any investment decision.