Ann: Appendix 4E and Annual Report to Shareholders, page-5

Was covered in the announcement regarding the sale to the company to First Orion

• to implement a more appropriate capital structure and to facilitate the Company’s pursuit of future

business opportunities:

• the Company will undertake a selective capital reduction pursuant to which 602,528,061

Shares held by Mr Gary Greenbaum (and/or his nominee), 602,528,061 Shares held by Mr

Rahul Agarwal (and/or his nominee) and 3,900,000 Shares held by Mr Steven Elfman

(and/or his nominee) will be cancelled; and

• the Company will cancel all of the existing Performance Rights and Options of Messrs

Greenbaum and Agarwal (and/or their nominees) (being an aggregate of 398,789,660

Performance Rights and 50,000,000 Options) for nil consideration; and

• Messrs Gary Greenbaum, Rahul Agarwal and Steven Elfman will resign as directors of the
Company.