Ann: Resignation and Appointment of Company Secretary and CFO, page-24

At this point of the game there are neither heroes or traitors. Any egos have been flogged to death.

POH may still have the odd iron in the fire - call it confidence or call it hope or call it a calculated gamble. POH is not a total lost cause yet.

A lot of you have stuck it out for a long time and all power to you in my opinion. I decided to take a fairly big hit but I admire those who stayed on board and maintained the faith.

POH has 12 months to pull the rabbit out of its hat and I don't believe the coffin is nailed shut yet. POH may come up with something that surprises even its most rusted on admirers. Only caveat to that is it has 12 months and I don't think it can afford any more time.

Good luck all and I hope you reap the rewards for staying.