Ann: Notice of Change of Interests of Substantial Holder and IAF, page-24

Xerof,

I expect that the AVB sp to fall after the bid closes. Probably not hugely if OZL gets control, but yes back near prior levels if it fails.

I base the former on my recent experience of partial takeovers. I stayed in one of three I have received in the last couple of years, and all three fell back quite a lot after the bid closed (successfully in each case).

Staunch,
OZL doesn’t need AVB. A takeover wouldn’t even substantially increase either reserves or resources per share. Each of the resources AVB hold are quite small relative resources OZL is already moving towards production, namely Carapateena and West Musgrave.

I don’t know whether AVB need OZL, but their management and directors seem to think so.

BPAA, Do your own reading. Thank you.

EL