Ann: Letter to Shareholders, Notice of AGM & Proxy Form, page-97

Good questions !! I would assume that changes of this nature to the allocation of the bonus pool would have to be ratified by the shareholders in advance of a sale. So I am not expecting any sale announcement until after the AGM and the vote.

On a side note, as much as I am unhappy about how things are communicated to shareholders at this important juncture, I don't think now is the right time to have changes in management or on the BOD (unless it is to re-appoint James Dorrian into a more hands on role to assist in the commercialisation process).

I don't think it is wise to put too many hurdles in front of the BOD at this point either, but I would still like to have an explanation about why they want to build in the ability to increase the percentage of shares that can be added to the register. This is the sort of 'request' that triggers uncertainty amongst shareholders, especially when there is so much chatter and uncertainty amongst shareholders about further development being needed which could lead to a future capital raise.

I get there are things that need to be kept secret, but there is a lot of room to improve the basic communication with shareholders.

For example maybe something like this would help..........: " We appreciate that shareholders are likely to be feeling frustrated and possibly even confused by the current lack of new information following our recent meetings at IMEC. This appears to be reflected in the steady decline in the share price over the past weeks despite the fantastic results that have been released to the market. Due to the extremely sensitive nature of our ongoing discussions we feel it is not prudent to share the details of these discussions, mindful that this could lead to unwarranted and falsely based speculation in either a positive or negative way."