Ann: Letter to Shareholders, General Meeting Notice & Proxy Form, page-157

As far as I am aware the situation with IWAC has not changed. The Top 20 shareholders were concerned that in the upcoming raise a individual or company could take a majority interest in our company at a low entry price. PP has confirmed to avoid this that all existing shareholders will be given preference in the raise. Be assured that the Top 20 shareholders will not allow a merger or takeover until our share price has significantly increased.