Ann: Share Purchase Plan Closed, page-4

Having owned GWR shares in the past I had a read of the latest announcements,I am astonished all these directors are getting dirt cheap options year after year with more to come.This latest share offer if fully taken up with 10% should have raised just over $2,000,000 it raised a dreadful low $362,000. Shareholders bought 4,258,813 shares at their 15% discount paying 8.5 cents. While the Directors bought 2,677,699 at their huge special discount of 54% instead of their salary. This basically doubles their salary these directors have done this for years.Not only have the directors wasted huge costs in such a small capital raising.They have cost shareholders money over 30% dropping the share price from 10.5 cents to a weak 7.1 cent share price.I also notice one of the directors T S Law didn't attend any of the 4 board meetings during the year but still took his 577,543 shares at 4.75 cents a 54% discount as I said he basically doubled his wage,great deal for him. CHEERS