April 2008 Mr Brown buys 10,000 shares in Trentham Traders Ltd, cost £12,000.

January 2011 Trentham Traders Ltd is taken over by Vale Ventures PLC a quoted company. For every 50 shares held Mr Brown receives one unit of Vale Ventures PLC loan stock, nominal value £100, with detachable warrants to subscribe for 10 Vale Ventures PLC shares at a price of 220p per share at any time before 31 December 2015.

April 2012 Mr Brown sells his share warrants for £950.

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