Ann: General Meeting - Results of Resolution, page-54

Gwahir,

There is a lot of abuse and disparagement in your comments, but you yourself appear to misunderstand completely how things work, and I think this should be immediately corrected.

When we talk of "trading while insolvent", this does not mean share market "trading" of shares.

It means trading in a business sense, and thereby dealing with creditors, including lenders.

If a company was insolvent, it would need to consider its position, and cease trading in that business sense, meaning in AJM's case mining, shipping etc. It would then need to consider appointment of administrators or the like.

In AJM's case, my suggestion would be a global auction of the enterprise, to fully capture the excess long term value of this asset over its debt value, for the benefit of shareholders. Note that insolvency is not determinative of whether there is any such excess value.

Suspending the trading of shares is more about whether the company is comfortable to fully disclose its detailed state of negotiations, which may be incomplete, and therefore difficult for shareholders to comprehend, and price the shares.

Suspending share trading gives absolutely no cover to Directors where the business is trading while insolvent.

You're welcome.