Ann: Response to Aware Letter, page-81

888,

The reason for the appointment of an administrator is identified in the announcement entitled Suspension and Appoinment of Voluntary Administrators.

The announcement refers to appointment under s 436A of the Corporations Act 2001.

The only reason for appointment under this section is the company is insolvent or likely to be insolvent at some future time.

The company cannot appoint an administration 'purely because TON is in a total mess at the top.'

However, extra for experts, shareholders could have called[and possibly still can call] an EGM and voted out the 'mess at the top' if that was so desired.

GLHF