From the Placement annnouncemet....... At the upcoming...

From the Placement annnouncemet.......

At the upcoming extraordinary general meeting to be held on Friday, 22 July 2016 (“EGM”), the Company will be seeking shareholder approval to reset its placement capacity under ASX Listing Rules 7.1 and 7.1A, and also seek shareholder approval to issue up to 250m shares to sophisticated investors at an issue price of no less than 3 cents. In the event that shareholder approval is obtained for these resolutions, they will be relied upon to issue the shares pursuant to the Placement. Accordingly, completion of the Placement is conditional upon shareholder approval being obtained for resolutions 1 and 2 at the EGM.