Ann: Dragontail Scheme Implementation - Reminder, page-54

This would be comical if it wasn’t so serious. I have spoken to Advanced and two other senior DTS contacts and have received 4 different answers. And I haven’t spoken to the MD as the company number and his number on the Aug 19^th release is wrong! ASIC should look at this, but it is probably too small for them. I have serious doubts about the accuracy of Page 17 of the Scheme Booklet.

I have a Company holding of less than 569k shares. So according to the flow diagram and Advanced, all I need to provide is a completed WT Declaration. Well, not so according to a senior operative (and the only one I think I can trust that knows what he is talking about). Well, why then does DTS not make an ASX announcement to correct page 17.

I have an account that I have moved below the 569k share as its just too hard and it involved other trustees.

My main two accounts are above the 569k threshold. I have come to the conclusion that I will in the end get the full amount and have assumed 31^st Oct, giving me 3 to 4 weeks to get my tax returns up to date (which I need to do anyway, so no extra work) and then say 5 weeks for the Certificate of Residency and Advanced to pay.

Buying at 22.5c, will yield 26.96%pa assuming a 31^st Oct Completion Date. But it should be actually much better than that as Advanced should pay 75% immediately on 8^th Sep or shortly thereafter and the 25% balance when the Certificate of Residency is received. So my IRR should be above 60%pa for a takeover that has already been approved by shareholders, so very little risk.

The Certificate of Residency doesn’t look that onerous. Just google “ATO Certificate of Residency”, and go the ATO website.

I am thinking of topping up, particularly for thoseaccounts below 569k, to get them just below 569k. Assuming 8^th Sep, the IRR is 264.43%pa for next to no risk. But may wait until Monday, as they may bemore information by then to clear things up. And I will ring again today if I get a chance.