starting its move up, page-27

Hi Plough,

I'll go to 10% of portfolio temporarily for the 'free' option coming by being on the register on the 18th December.

Once I've secured the options I'll sell down around 33% of my heads holding.

Thus (for example)

6 mill heads at 18th December

19th December 6 mill heads, 3 mill options

Over subsequent few months sell 2 mill heads to end up with LT position of 4 mill heads and 3 mill options.

Intention would be to hold the heads for 3 years and take up the options if in the money and hold them for a similar duration.

Cheers
John