Ann: BLA: Appointment of Receivers and Managers, page-14

Hi CB. BSAAF only have the ability to manage our investments and cash they have no right to just take it other than as agreed fees per the management agreement. While the announcement seems a little strange, what the directors have done is stop BSAAF investing our $29M into more of their funds. They still have/had a fiduciary duty to invest the funds with the intention of making profits for us, however in my opinion the directors have done the right thing as we would rather have cash than investments in their funds given the current uncertainty.