Last years Annual Report, page-5

Hi Ilyas,

in addition to low daily trade volumes there is also rather heavy shorting ( 35% to 90% of daily trade volume) occurring. A relatively small number of shares being shorted ha a major impact, not only on EWC's share price but also on the confidence of current shareholders (other than the major institutions and large individual holders of EWC shares as well as those directors who recently bought shares (at around 37 cents)) and future investors considering an appropriate entry point.