Ann: CONFIRMATION OF ISSUE OF CONVERTIBLE NOTES, page-14

The link you provided was very interesting but since SAS has not actually been de-listed (I think it's stll in a state of voluntary suspension), they didn't appear in the list of delisted companies. However the site has a very useful search function for all companies, and via that I was able to access recent off-market dealings in SAS shares by Directors of the company. Of particular interest was a purchase of 100,000 shares on 9th March by a company controlled by the non-exec Chairman of SAS, Gordon Naylor for AUD 5.359 per share. So they are not exactly worthless! Of course 100,000 post reverse-split shares is equivalent to 280 million old shares. This is probably a sale by one of the former Directors of SAS. The penny then dropped. Just as Hot Copper still shows 1.6 cents as the last traaded price of SAS shares, this is equivalent to AUD 44.8 per share post reverse-split. So the problem I'v been having with my attempt to do an 'in specie' transfer, just comes down to the broker treating my 357 shares (1 million pre reverse split) as old shares rather than new shares. I'm hoping the problem will disappear if the Broker values them correctly!

In conclusion, I wouldn't have found out the useful information about actual transactions involving the new shares without your link. So, thanks for taking the trouble to post a reply.

Chris