ANS could be the next huge iron ore holder, page-20

Dear Tolate,

It is less likely that ANS is able to take over SDL with current financial condition. If there is an associate of ANS would like to take over SDL, this party is more likely to directly take over SDL instead of indirectly through ANS.

There is possibility that ANS will only act as an arranger to bring a Chinese investor/company to SDL. However, anything could happen beyond our guestimate or conjecture. Hope the deal will benefit both ANS and SDL shareholders.