Ann: Entitlement Offer to Raise $1.4 Million, page-3

We are not frustrated but rather disappointed in the lackadaisical approach taken by our board and its management. In the context of the ASX announcements made to date on the issue of NT, this is what we perceive as shareholders looking in. This 'sit back and watch the world go by' approach needs to change. We need to see more initiative; more get up go. Approach problems and overcome them by thinking differently thereby making your own luck. Don't sit back and accept. Stand up and challenge. After all, there's so much at stake at this point in the company's evolution! This NT issue is a prime opportunity to shake up the board and bring in a lad or lass with new thinking/ideas in how to go about business. We need a board and management that for once will get on the front foot and crack the half-volley through the covers for 'four'; not just sit back and repeatedly get wrapped on the pads for LBW howzats!

Whether ASX announcements were made honestly is not the issue. The issue is whether due care, skill and diligence was taken in getting NT over the line in a timely manner especially in light of the company's financial position including the secured outstanding debt (not to mention the potential conflicts issues). Although we are told that the company for its part has signed the NT agreement and delivered it to WYAC, we are not told on what date WYAC sent it to the company nor on what date the company signed and sent it back to WYAC. This is concerning especially when we are told on what date WYAC will meet (12 November). More concerning is that we are told no more than WYAC will meet. It may be that the NT agreement is not even on the agenda for that day. We simply do not know.

Lastly, 'the company remains hopeful that the NT agreement, the terms of which have been settled for some months, will finally be signed' - what? This is not what we want to hear. This implies that they have simply raised their hands up or raised the white flag and left everything to hope or luck. Really? Re-read my first paragraph. The board and its management team really needs to up their game on initiative and lateral thinking. Make your own hope/luck FFS! At the end of the day, us shareholders just want the board and its management team to take our constructive feedback onboard and shift their mindset in overcoming hurdles and obstacles.

P.S. The company should have a look at how another one of my holdings (LTR) handled its NT agreement!