Ann: Response to Media Speculation, page-107

Yeah, make no mistake, if oaktree get involved. It will be a very successful deal for oaktree and their shareholders. Not such a great deal for BLA shareholders.

I assume the deal will look like:
1. A position on the share register, circa 20% at $1 / $1.50 a share.
2. Re-finance the existing loans to investments to re-cash the BLA balance sheet.
3. Board representation
4. The ability to convert that debt to equity in BLA if certain conditions are met - terms favorable to oaktree.
5. BLA would be pushing for a deal to present to the shareholders at AGM

As I have maintained, this will be interesting after the annual report - until we see the true recurring operating costs (June update reported 30million negative operating costs for last 6 months) this beast is a dog.