upward movement, page-9

to get to a position of paying a 5% cash yield on a market cap of $200m woudl mean the company has to be making $10m cash per annum (that is cash left after capex and interest).

The Archer offer of say $250m is $12.5m. Give me the 52 cents and I will turn it into more, not you, the Directors. One probelm is that noone holds enogh of these things to ring teh Board and give them a string indictaion that if they dont play with the Archer, they may get an arrow in their back next AGM.

Directors, please note Transurban's most recent announcement.