Ann: Appendix 4C - quarterly , page-9

I am not certain of this, but think there are barriers to paying dividends unless they are paid from retained earnings - i.e. it is easier to pay a dividend if there are no retained losses?

I think this can be "fixed" by shareholders voting for a reduction of capital - having the effect of removing both accumulated losses and equivalent capital from the balance sheet. However, I would think it most likely that this would be undertaken at current years AGM in preparation for divs next year?

Maybe someone with knowledge in this area can help, as I am just going on experience with other companies that have done this in the past (MAQ).