Ann: Appendix 3B and Cleansing Notice, page-2

Cap raise details out, 1 for 1 offer @ 0.15c for existing S/H. They also laid their cards down regarding further capital management plans:

"Following completion of the Offer, the Company may raise up to $1,000,000 by way of issue of converting notes and/or undertake a placement of Shares to raise up to $300,000. . . .

Further:
(a) the Company intends to issue up to 145,000,000 Shares, 160,000,000 convertible performance shares (on terms to be agreed) and 50,000,000 Options (each with an exercise price of $0.14 and an expiry date of 31 October 2018) as part of the consideration for the Proposed Transaction (refer to Section 1.2 for further details on the Proposed Transaction);
(b) the Company may decide to undertake an equity capital raising simultaneously with the Proposed Transaction (the size and terms of any such equity capital raising is yet to be determined); and
(c) it is likely that, as part of completing the Proposed Transaction, the Company will undertake a consolidation of its issued capital and reorganise its securities in accordance with the Listing Rules (the consolidation ratio is yet to be determined)."

14c option strike price - most interesting.

Current shares on issue 203M.

An interesting year lies ahead.