Ann: February 2015 Investor Presentation, page-19

Hi Rizzla,

From memory, the original prospectus named 6 partly paid holders but this didn't add up to the 20m odd they had out so I'm guessing another half dozen or so are consultants/friends who may have had 2.5-3m. Either way, Damon is the only one that is required to report any changes; so the convertor/seller isn't him. My money is on Ormerod who originally had 5m just like Damon. The only other holder of with > 1.6m that I can figure is the CFO, Bevan Tarratt. And I doubt it'd be him, on the basis that it is extremely poor form (read = sackable) to flog shares when the boss is on the road.

Maybe Ormerod is stacking some chips for a 2Q CR for his Antilles (AVD) who have only $2.4m left as at end Dec with a$0.9m est Q1 spend.

All pure bloody guesswork, of course.

Cheer,