Hi Haka,spoke with the company today. They confirmed that they...

Hi Haka,

spoke with the company today. They confirmed that they have not started the buy back as yet. They agreed that they have been able to do so since Tuesday.

I was very critical, saying they announced to market that their desire was to move the shareprice closer to NTA...and instead they are allowing it to drift lower whilst the cash just sits on the balance sheet.

I speak with a number of large insto holders I know, and they were very surprised it hasnt started as yet as well. They too were very critical. I urged them to call the management and as large shareholders makes some demands.

It is our company, they made an provision to commence early and have not done so. I was pretty peed...and the company representative kept repeating the same line...."we have not commenced the buyback as yet". After he said that line for the 7th time I realised I was wasting my time. He was clearly not giving anything away with his fear of ASX disclosure rules banning him from proving me any new info.

I will be at the AGM and Kerri is not going to get the nice reception she has been use to over the last 5 years.

Kiril.

I hold.