Ann: Notice of Extraordinary General Meeting/Proxy Form-CM8.AX, page-71

Q - seriously? You've been calling for months now that they re-negotiate the debt. Now they have, you say they shouldn't have...

Management have struck the best deal they can, and believe it will be favourable (i.e. shareholders will be better off) compared to the original euro bank loan. The document explaining the CN is complex, but they have attempted to explain it by way of examples. I guess we are not all equal when it comes to reading and interpreting such documents, but as I said yesterday provided the company has the absolute right to determine whether payments are in cash or shares, and any that JGB decides to convert are at that fixed EGM date 30% premium price, then I am ok with it.

Cheers, Sharks.