Ann: Entitlement Issue Closes Fully Subscribed, page-4

Good Morning all,

With only 40% of all shareholders taking up the entitlement offer, where they have taken up 70% of the total offer (short fall), I am expecting to see a change of substantial shareholder notice from Twynam.

They held 24mil shares. that only required to invest $300k, this is insignificant to their previous investments in FGR.

We have 3 scenario's.

1. Twynam didn't take up their offer, where we would see a change of sub shareholder noticed due to the 10% dilution of their holding, reducing their holding to under 5%
2. Twynam did take up their offer, where we won't see a change in sub shareholder notice
3. Twynam applied for part of the short fall, where they increased their holding by 1% (approximately $1mil investment) which would be inline with previous investments made by Twynam.

I am hoping for option 3.