Ann: Issue of Placement Shares and Appendix 3B-KBL.AX, page-43

Two points

The board are responsible to both the shareholders ands the bond holders and I am both a shareholder and a bond holder.

It would be totally unethical to intentionally favour one class of investor over another. An argument could be made that the recent financing by the board disadvantaged the shareholders, but this was forced by circumstances.

For compulsory euthanasia, the prime example will be armageddon. May it go well for those who deserve it.

My understanding is that the convertible note is $12M.