News: BRO Broad Investments Ltd responds to ASX Query

Feb 22 (Reuters) - Broad Investments Ltd (BRO) :

• Believes that at the time of the restructure the Mirrus business was not material effect to the operations of the co
• Considers of proceedings by director against co to be information that reasonable person would expect to have material effect on price and value of its securities
• After aapt's acquisition by TPG, workload outsourced to mirrus reduced considerably
• After aapt's acquisition by tpg, mirrus business in May 2015 constituted very

  small, loss making, insignificant and immaterial part of group

• Restructure of mirrus business expect to have a material effect on the price

  and value of the company's securities

• Says "company is hopeful that the dispute will be resolved by the end of April, 2016, either by negotiation or by court orders"
• Says anticipated that staff in Sydney may be increased over time to cope with merger of activities into ubcg
• Considers notification of winding up action by ato against unified business communications not to have material effect on price and value of securities