oouuch, page-10

I remember not applying for the float.

Off to have a Speights dark at the Dunedin local in rememberance of...........

Court finds Chemeq fails to meet covenant
12:51, Thursday, 1 February 2007

Sydney - Thursday - February 1: (RWE Australian Business News) -
Justice Templeman in the Supreme Court today found that Chemeq Ltd (ASX:
CMQ) had failed to meet the terms of the final milestone covenant set
out in the Convertible Bonds Deed Poll.
This covenant required Chemeq to achieve gross revenue from all
sources of at least $4.0 million for the year ended 30 June 2006.
Pursuant to the Convertible Bonds Deed Poll, the Notices of
Redemption previously issued by Stark Trading and its associates and
Harmony Capital Partners require Chemeq to repay the $60.0 million face
value of the convertible bonds forthwith.
The court has granted Chemeq a stay of execution until 4.00 pm
WDST Monday 5 February 2007, this will enable Chemeq to review Justice
Templeman's decision and considering its position.
A further announcement will be made to update shareholders as
soon as possible.
The trading halt over Chemeq's securities will continue in the
interim.
ENDS