AGM Monday, page-67

I also attended and assume was across the table from you Force.

Good summary, only points I would make is,

• Directors don't believe they will need to raise as costs associated with RTO as costs will be covered as part of the RTO raising.
• They were talking about Mike not Alex running a commercial business, being gridcomm e.g. running the business and setting up infrastructure and racing around the world chasing new deals.
• It was the appontment of gridcomm Australian lawyer not Alex's.
• New ASX rules around minimum raising for RTO is one change that needed to be re-worked
• Consol rate will be finalised after ASX provides feedback on 20c waiver.
• 6% guy will not impede conclusion of the deal
• I did not understand that there would be any announcement until the ASX and ASIC review new documentation to be lodged this week.

I was comfortable, all things being equal, the deal will be be completed, however, it will take additional time. My view is another 5-8 weeks. Having said that, key element is that gridcomm are engaged in completing the deal. In my view after eyeballing the directors its not a matter of if but when and the when will depend on the bureaucracy of ASX and ASIC.

IMO

Cheers,