12 May, 2010
Dear Shareholder
The draft accounts to 31st December, 2009 have been sent to the Auditors and are expected to be available for approval by the Directors towards the end of May.
In recent weeks the talks with Kaidi Electric have not progressed as fast as expected and the time is fast approaching when your Directors will need to consider other options for taking London Asia Capital forward. At this stage every effort is being put into concluding a deal with Mr. Chen. A meeting has been arranged in London on Tuesday 18th May when it is hope to reach a satisfactory conclusion. Shareholders will be kept informed.