Ann: Notice received under S249D & Shareholder Update, page-88

It is certainly going to be a David v Goliath contest.

I will be the first to admit I do not have the current boards skill set.

They stand with their credentials on a Liquidity and Value proposition and biographies.

LIQUIDITY - They were members of the BOD that placed the company in suspension for 13 months so far. Was full oversight of executives conducted??

Their responsibility as per the corporate governance statement.

VALUE - Members of the BOD for the Financial year that signed off accounts for a $222m write down of shareholders equity.


Their responsibility as per the corporate governance statement.


I am glad Garry and Myself do not have the current boards skill set.


Will a binding vote be proposed to holders and be accepted?

I have my doubts.

The test is the EGM - it all comes down to numbers.

I would prefer not to stand, and a more sensible approach by the BOD occur. Unfortunately that does not seem to be possible.


The question everyone should ask themselves, is why are they so keen to stay?

Its not for the fees.


If this goes to escrow distribution, and holders get their shares, I wager any support for the current board will fall off a cliff once the shares are under holder’s ownership.

They need a sale IMO.

I will leave you to guess why.

We have all been extremely patient until now. Another 12 months or so will be easy I think.


I should add, respect to all opinions.

A 249p will be lodged to give further details.

cheers