From: Peter Mandelson

From: Peter Mandelson To: [email protected] <[email protected]> Subject: Fw: negotiation Date: Wed, 11 Jan 2012 21:45:33 +0000 What do you think ? From: Benjamin Wegg-Prosser Sent: Wednesday, January 11, 2012 08:05 PM To: Peter Mandelson Subject: Re: negotiation What's his view on price: 2011: ??1m rev, ??150k profit, 15% margin - actuals 2012: ??2m rev, ??600k profit, 30% margin - budget hit Q1 targets already 2013: ??3m rev, ??900k profit, 30% margin - budget. From: Benjamin Wegg-Prosser Sent: Wednesday, January 11, 2012 07:28 PM To: Peter Mandelson Subject: RE: negotiation that is basically the plan. We have a draft Term Sheet. From: Peter Mendelson Sent: 11 January 2012 19:27 To: Benjamin Wegg-Prosser Subject: negotiation JE suggests Lazard sd buy less than 50% now with the obligation to buy the rest over some period less than 5 years using a formula to be determined today. Disclaimer This email and any attachments to it may be confidential and are intended solely for the use of the individual to whom it is addressed. My views or opinions expressed are solely those of the author and do not necessarily represent those of Global Counsel LLP. If you are not the intended recipient of this email, you must neither take any action based upon its contents, nor copy or show it to anyone. Please contact the sender if you believe you have received this email in error. Global Counsel LLP is a limited liability partnership registered in England with number OC3597137, registered office 27 Farm Street. London W1J 5RJ. Disclaimer This email and any attachments to it may be confidential and are intended solely for the use of the individual to whom it is addressed. My views or opinions expressed are solely those of the author and do not necessarily represent those of Global Counsel LLP. If you are not the intended recipient of this email. you must neither take any action based upon its contents. nor copy or show it to anyone. Please contact the sender if you believe you have received this email in error. Global Counsel LLP is a limited liability partnership registered in England with number OC359787. registered office 27 Farm Street, London W1J 5RJ. Disclaimer This email and any attachments to it may be confidential and are intended solely for the use of the individual to whom it is addressed. My views or opinions expressed are solely those of the author and do not necessarily represent those of Global Counsel LLP. If you are not the intended recipient of this email. you must neither take any action based upon its contents, nor copy or show it to anyone. Please contact the sender if you believe you have received this email in error. Global Counsel LLP is a limited liability partnership registered in England with number OC359787. registered office 27 Farm Street. London W1J 5RJ. EFTA00687154