Ann: Notice of Extraordinary General Meeting-ODN.AX, page-140

Sorry for all those who are going to lose money in the short to medium term on this. I really do not wish to rub salt on the wounds but I was trying to warn about this for such a long time, but just copped a lot of abuse for being a downramper - no doubt mostly from those that had a selling agenda. But with the deal details being hidden and the company being insolvent, leaving holders no option but to accept whatever, the writing was on the wall. Having said that 35:1 is even worse than I had expected.

Notice the nice big tranche of options for the advisors? They were never going to be worried about a large consolidation ratio. Different rules for those at the top, worth bearing that in mind.

Hopefully the prospectus will show that gridComm are well on their way to achieving their potential, so that the performance shares can be issued as quick as possible and then allow the SP to start appreciating. The sooner they get their additional funds and start expanding the better, as there are much bigger electronics IOT players already making ground in key markets around the world.