Ann: Response to ASX query regarding section 249D, page-7

re: Ann: Response to ASX query regarding sect... "am i seeing it correctly? the response is by lawyers, responding on qfx's behalf?"

Yes you are seeing it correctly and nothing like corporate Lawyer fees to blow out admin costs.

Well this is an interesting turn of events, although unless an offical 249D has been issued, which in this instance looks like it hasn't going by the reply to ASX, then its BAU for the company.

However it is a concern when ever you see 249D mentioned (especially when replied to by lawyers) as there must be a move behind the scenes at the moment to request a EGM and put the current board to the vote. So it's interesting to know there is a group of shareholders who are unhappy enough at the companies performance over the last few years, they are looking for changes at the top.

It is odd though for the company to receive a request for EGM but not 249D attached. However it could be a case where they have issued the company notice that they have 5% min requirement and looking to serve the company a 249D in the coming days.

For those that don't know what a 249D is or haven't been a holder in shares of a company which has gone through this process (mostly only enjoyed by lawyers) it's basically the first step towards a coup de'tat against the board, by any number of individual shareholders who combined hold more than 5% of the shares in QFX. As is required under section 249D of corporations act 2001

And is usually accompanied by a request to convene an extraordinary general meeting to consider certain resolutions relating to the appointment of Directors.

So holders, make sure your CHESS registration has your current address, because you could be receiving mail in regards to a vote. Either to maintain existing board or possibly looking to replace one or two existing directors with candidates proposed by the group who have kicked off the 249D in the first place.

From the sidelines, always interesting to watch these play out.


Kat..