tz gas and energy, page-47

I also have just under 1m NO votes and will probably contact KEY management prior to the meeting and explain the reasoning for my voting this way.

I still have confidence that management will deliver in the end, however I also believe they need to be more transparent to its shareholders on this journey. The world had changed, they know that. That is why they changed their strategy towards the end of 08. They now have to realise that as shareholders we are now more prudent with our money and cannot afford to sit back and pray / hope that things will work out ok.

The other aspect I am a little worried about is the current sp and the lack of upward movement in a positive market, especially after a good acquisition. To further dilute long term holders shareholders around these levels is not a good move for anyone.............except the new holders coming on board of course.

I will also not be at the AGM, however I would not be surprised to see them provide more information at the AGM to gain support on resolution 4.

Cheers
R