From: David Stern Sent: Wednesday, January 11, 2012 3:02 PM To: Jeffrey epstein Subject: Re: The problem as stated by the other side. Note: CMDS is the Holding Co of which I currently own 49.9% and should =et their 50.1% as part of the deal (to make it 100% mine) Deloitte's are refusing to support Informa's proposed treatment in =MDS of the fee for the grant of the licence, as income. Without that, =e can't create distributable reserves in CMDS for it to be able to =uy-back Informa's 50.1% shareholding at the $2,487,500. The buy-back is =ikely to be challenged, and potentially deemed illegal in Hong Kong. We are holding those shares with that value as an investment, so if we =an't recover the value (via the buy-back or some similar means) we =ould have to write-off our investment of $2,487,500. This would be =ompletely unacceptable to the Informa Board (Peter and Adam), so they =on't approve the deal. The only way to make this work is if Informa receives $2,487,500 in =xchange for its shares, and without the buy-back option, that really =eans we need someone to buy them for that value. On 11 Jan 2012, at 14:43, jeffrey epstein wrote: > Cell now > Sorry for all the typos .Sent from my iPhone > On Jan 11, 2012, at 3:25 PM, » When can I call you? Need your help please. wrote: <?xml version=.0" encoding=TF-8"?> <!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/PropertyList-1.0.dtd"> <plist version=.0"> <dict> <key>date-last-viewed</key> <integer>0</integer> <key>date-received</key> <integer>1326294130</integer> <key>flags</key> <integer>8623750145</integer> <key>gmail-label-ids</key> <array> <integer>27</integer> <integer>7</integer> </array> <key>remote-id</key> <string>200904</string> EFTA_R1_02048919 EFTA02696194

</dict> </plist> 2 EFTA_R1_02048920 EFTA02696195