Ann: Director Statement, page-41

Thought I’d share my experience. I regarded the Section 249D Notice and the company’s response as a red flag, and I wrote to IR soon after (weeks ago) asking why they were recommending Mr Ward's removal. I got a response from BB herself not answering the question and asking for proof I was a shareholder. While in my experience companies will sometimes ask for proof even when the request is innocuous or they have nothing to hide, I didn’t like the vibe of the response.

Regarding BB’s appearance on “The Market Bull” podcast, you have to ask yourself why at this point BB would want to do this. It has the effect of temporarily pumping up the stock price a bit, and getting small retail shareholders to buy in. As the Twitter account of this podcast says “TMB may receive remuneration from companies”. I hope the company's money was not wasted on this.

Soon after the “Money of Mine” podcast also featured IDA positively via one of their interviewees Jeremy Raper who is also a poster on this site. Money of Mine don’t accept remuneration from companies, but it will have the same effect of causing small retail shareholders to buy in. I note that on his Twitter account Mr Raper has has written of Mr Ward's allegations "given the scope and detail of the allegations there's prob a good deal of truth to much of it".

One concern I have is that small retail holders will not vote, or will be overly compliant, and there will be no end to the further shenanigans and generous bonuses for management. That’s even more likely to happen if Mr Ward is removed for looking into this pattern of behaviour by management. Somehow I doubt TMB will be covering the latest developments, but it would be nice if Money of Mine would do an update on the latest developments. It is exactly the sort of shenanigans they like to cover and that make for an entertaining show.