Ann: Red 5 successfully completes Retail Entitlement Offer, page-5

As noted previously, D- for management in relation to the retail aspect of this share purchase plan. No support much above listed price to provide the needed incentive for retail buy in (i.e. prices basically languished at the 16 cps mark). Hence a take up in the low 40's % by holders (very poor). It was also offered on a short fuse across the Easter school holidays when many were busy with other things (you would think a quick meeting would have resolved that this was going to be poor timing). That can only leave you with the conclusion that the underwriters were very happy to buy up at 16cps - and that is what this whole maneuver was about! I really hope this management team has got their act together on the build and operate aspects of this project - given little confidence. This project (KOTH) has the potential to be a company maker or company breaker (and many examples of the latter). Personally, I saw this for a bit of a ruse to allow the preferential s in at a low price and thus took up my holding as a top up. Will now watch with much interest on progress towards project milestones unfolds - including cost control. Hoping for so much better from here.