<table><tr><th>From:</th><th>A. de Rothschild</th></tr><tr><td>Sent:</td><td>Thursday, September 18, 2014 4:39 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

I doubt...but if it s the case better for me

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On 18 sept. 2014, at 18:17, "jeffrey E." <jeevacation@gmail.com <mailto:jeevacation@gmail.com> > wrote:

so they are raising debt in an attempt to get their stock price up. its a good move

On Thu, Sep 18, 2014 at 12:00 PM, A. de Rothschild > wrote:

Yes they can buy back up to10% of their shares at max price 35 on the mkt. If i sell to them it sat current mkt price 17.40

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On 18 sept. 2014, at 17:49, "jeffrey E." <jeevacation@gmail.com <mailto:jeevacation@gmail.com> > wrote:

but they have asked for for permission to buy in common shares. up to 35 e , each; so do i understnd correctly that you could sell your 5 imllion shares to anyone?

On Thu, Sep 18, 2014 at 11:40 AM, A. de Rothschild
<mailto: > wrote:

No not jardine- they hate each . I have no restrictions.
I re-read their motions : 70 mio capital+ 300mio additionnal debt -
Very heavy on their balance sheet.
No clarity,no description of fund use and asking for entire powers to be given to mgt .

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On 18 sept. 2014, at 17:26, "jeffrey E." <jeevacation@gmail.com <mailto:jeevacation@gmail.com> > wrote:

maybe , with jardine, but doubtful, -- do you have restrictions on the shares. you own. sale transfer etc.

On Thu, Sep 18, 2014 at 10:49 AM, A. de Rothschild <ader@aderfam.ch <mailto:ader@aderfam.ch> > wrote:

It s looks more like thst the y re preparing their group for a merger

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On 18 sept. 2014, at 14:02, "jeffrey E." <jeevacation@gmail.com <mailto:jeevacation@gmail.com> > wrote:

I dont think they are going to sell. i think they are buying back, shares and issuing new ones. i see no real problem for you, none

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please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for

the use of the addressee. It is the property of
JEE
Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited
and may be unlawful. If you have received this
communication in error, please notify us immediately by
return e-mail or by e-mail to jeevacation@gmail.com

destroy this communication and all copies thereof,
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<mailto:jeevacation@gmail.com>, and

please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of

JEE

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailtcyjeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

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