nat 1 52 trading at 110, page-2

Excellent work from the boys.

Just point out something that I was quite impressed with today's announcement. Page 4 + 5 talked about the 5.75m shares they bought back and they wrote some of the questions that shareholders asked at the recent AGM, ie. dividends, franking credits, SPP etc.

All shareholders have ever asked for is a clear understanding of what the management and board is trying to achieve. Writing this goes along way to clearing up these issues, maybe some shareholders will think twice about selling after reading this sort of commentary, that will be one way to reduce the discount.

Pep