"its shareholders turn to talk"

A number of shareholders who together own over 5% shareholding have been in discussion privately separate to HC forum and are very aggrieved with managements handling of PNO/ ThermaLIFE.

The lastest announcement of a placement and entitlement offer at a ridiculous price of .007c whereby the SP was 1.5c + higher weeks and months ago and the fact that there is still no announcement as to the strategy of the brand and consumer marketing campaign has now warranted in the group in calling for a course of action as specified hereunder.

One of the things we are contemplating is getting a shareholder on the board to try to protect all investors interests.

If you are a shareholder of PNO and would like to discuss this matter further, please email [email protected]

CORPORATIONS ACT 2001 - SECT 249D

Calling of general meeting by directors when requested by members
(1) The directors of a company must call and arrange to hold a general meeting on the request of:

(a) members with at least 5% of the votes that may be cast at the general meeting; or

(b) at least 100 members who are entitled to vote at the general meeting.

(1A) The regulations may prescribe a different number of members for the purposes of the application of paragraph (1)(b) to:

(a) a particular company; or

(b) a particular class of company.

Without limiting this, the regulations may specify the number as a percentage of the total number of members of the company.

(2) The request must:

(a) be in writing; and

(b) state any resolution to be proposed at the meeting; and

(c) be signed by the members making the request; and

(d) be given to the company.

(3) Separate copies of a document setting out the request may be used for signing by members if the wording of the request is identical in each copy.

(4) The percentage of votes that members have is to be worked out as at the midnight before the request is given to the company.

(5) The directors must call the meeting within 21 days after the request is given to the company. The meeting is to be held not later than 2 months after the request is given to the company.


Regards

Scandal