Ann: Becoming a substantial holder Tolga Kumova, page-37

So if we then assume that Tolga in addition to his already acquired 13,086,727 shares ( 5.29%) are then bolted onto Tranche 1. ( per below ) , he would then have potentially 78,608,962 or 17.23% of the company or just afew percentages below the takeover threshold 20%.....

Even he is more likely to be the ' key ' stakeholder being allocated the 28,434,177 under ASX listing capacity 7.1A 10% , he would still have close to 10% ( convenient blocking stake ) with his allocation of corresponding options.....

Ya so definitely some serious ' jostling ' in among the Top 20 and ' insider ' control of the company in my opinion......

Tranche 1 will comprise 65,522,235 Shares at 1.1 cents per Share to raise $720,744 (before costs), to beissued under the Company’s available placement capacity as follows:

o 37,088,057 Shares under ASX Listing Rule 7.1; and

o 28,434,177 Shares ASX Listing Rule 7.1A; and

Tranche 2 will comprise 73,795,947 Shares at 1.1 cents per Share to raise $811,755 (before costs), to beissued subject to shareholder approval.