Fellow shareholders,

Today I received the following message from my fellow CPO Director Bob Sewell:

'Dear Steve,

'I am writing to let you know that I will not be seeking re-election at the next AGM. The workload associated with the role has increased beyond all recognition over the last nine months and I feel it is time to make way for someone else.

'I'll be available to help with any administrative matters that arise but do not think it advisable to participate in board meetings or any decision-making that will affect the future of CPO.

'I have been immensely proud to have served CPO in various capacities since the Company was set up and will remain a shareholder and supporter of its original ethos.

'I wish you and the remaining Directors all the best for the future - it has been a pleasure working with you all.

'Up the Blues.


All of us on the Board would like to thank Bob for his excellent contribution to the Company, and wish him great success going forward.

I have known Bob for many years and can only say that he has always been a fantastic servant to CPO over the years, as a director and as company secretary, always putting what is best for the Company first.

Much unfair criticism has been levelled at him since October last and I fully understand and accept his reasons for stepping down.

The remaining Directors and I will take stock of what the present role of company secretary entails, and will be making further announcements in due course.

Steve Frankham