martin place securities presentation, page-18

Mowbay,
a 'sophisticated investor;' which is defined where:
* the minimum amount payable for securities is at least $500,000; or
* the collective amount invested in the same class of securities adds up to $500,000; or
* a qualified accountant certifies the net asset worth of $2.5 million or gross income for each of the last two financial years of at least $250,000 per annum.

I don't have a professional stockbroker, I purely use online services such as AOT and Comsec. I have participated as a sophisticated investor in a couple of placements now purely by contacting the company and getting to know management, signing confidentiality agreements and demonstrating that I'm good for the dough when a placement is offered to me. It is important to remember, the criteria listed by the ASIC still have to be met and an accountant will need to sign appropriate documents when the sophisticated investor participates in the placement.

I'm not sure how important wining and dining stockbrokers is. I think for a company such as ZYL, I'd get to know their CFO very well and meet the requirements.