Ann: Extension of Voluntary Suspension, page-39

"Could be something like half debt 125 million for 208 million shares that's at a rough 21 day VWAP of 56c this would be a very positive outcome for holders imo"

As a bond holder, why would I even contemplate an offer from the board that would see me ending up owning one-third of the issued capital of the company for the price of 56c?

How would I ever get my capital out under that scenario?

Put it this way, if a pure equity recap exercise was to take place: given the circumstances, do you think it would take place at a price double that of the last price?

Besides, your prosposal deals with $125m of debt: what about the remaining $213m of notes?