Ann: Response to ASX Query Letter, page-21

It's certainly forensic and it's certainly a fishing exercise.

I can't see anything particularly alarming but it's very difficult to qualify it. There are a lot of pieces of information I don't have which obviously the ASX and ASIC have and are asking questions specific to it.

Agree they seem to have pivoted back to performance shares and disclosure issues. Specifically whether any of the revenue is fabricated, and whether disclosures around changes in revenue were disclosed to the market.

It's impossible to make a call on whether they are in the clear or not on these issues, it largely depends on the veracity of the figures they have given, and the technical issues they are citing for changes.

If true, I'm not sure there is much left here for the ASX to prosecute further on. There also seems to be a distinct lack of understanding from the ASX on what ISX actually does and how they do it.