Ann: Results of Meeting, page-2

re: Remuneration Report

The missus, putting on her detective hat, brought this to our attention today. And to be honest we all missed the significance of this 'first strike' on Axioms' remuneration report.

Let's take a closer look at how the ever-so-loyal Axiom shareholders cast their proxy votes:

• 102,254,093 votes were cast against the remuneration report
• 7,873,088 votes were cast in favor
• 101,724 votes abstained
• 34,560 votes were at the discretion of the proxy

Now, let's compare that to the substantial shareholders' report:

• Peter Laurance 102,194,093
• Ben Laurance 86,536,640
• Oriental University City Holdings (HK) Ltd 82,250,000
• Sean Baguley 45,673,452

Notice anything similar between the two sets of numbers?

Looks like the old-man, Peter Laurance, voted against the remuneration report of which Axiom CEO and faithful son, Ben Laurance, as CEO and managing director is the major benefactor.

"Christmas lunch around the dinner table must have been a hoot" quipped the wife. But I guess the stumbling share price tells the same story.