Ann: Response to ASX Query Letter, page-16

C. The Underwriting Agreement:
a. which appears to have been prepared by lawyers acting for SKN;
b. does not contain any termination events which would entitle the Underwriter to terminate the
Underwriting Agreement; and
c. appoints SKN as agent and attorney for the Underwriter, authorising SKN to apply for shortfall securities
on behalf of and in the name of the Underwriter in the event that the Underwriter fails to apply for
shortfall securities and to apply for such shortfall securities on behalf of and in the name of the
Underwriter and to instruct the directors to issue those shortfall securities to the Underwriter with the
price for the shortfall securities being a debt immediately recoverable by SKN from the Underwriter.
In ASX’s experience, the matters described in a. – c. above are most unusual for an arm’s length underwriting
agreement.

Wow Mattilla and Shimmer, sure sounds to me like my suspicions were shared by the ASX doesn't it???