noice, page-35

G'day raju,

I'm in an exceptionally good mood after the AGM so I'll waste a bit of time with you.

What on earth are you on about?

The problem that CST have is exactly the OPPOSITE of what you postulate. What are they going to do with all the free cash that they are generating? There is nowhere in the company for them to use it.

They have only two options:

1. Use the money for an Acquisition. It would have to be a bloody good one.

2. Return the cash (and the problem of what to do with it) to us.