2.0 Shareholder Action

I thought I would provide an update to all on our proposed action to bring about a change in directorship.

I have made initial contact with the company and inquired as to the best means of initiating such a resolution if required.

There has been an amendment to section 249D of the corporations act which has removed the right for 100 members to convene a general meeting for purposes, unless they hold greater than 5% of
votes.

However, the right of 100 members or more to propose a resolution (section 249N) at the next company General Meeting is unchanged and as such we can still makes our voices heard and votes count moving forward if required.

This amendment sought to reduce costs for companies in regards to additional meetings.

This will no doubt be of some relief to supporters who perhaps did not want to rush into action before thinking carefully.

I would welcome anyone's thoughts at any time on this thread, but only constructive please or it will be moderated.

The last thing retail need to do right now is sit back and cross their fingers IMO.