Hi All,Just to be 100% sure that the total compensation payable...

Hi All,

Just to be 100% sure that the total compensation payable using the cash method is still $85M, I plugged all the variables into that ridiculous formula shown on page 6 of the supplementary disclosure on 21 Nov 2011 and got as follows:


http://imagesignal.comsec.com.au/docserver/01243379.pdf?fileid=01243379&datedir=20111121&edt=MjAxMi0wNi0wNysyMDo1Nzo0OSsxMjArMCtjb21zZWMrcmVkaXJlY3QrL2ltYWdlc2lnbmFsL2Vycm9ycGFnZXMvUERGVGltZW91dC5odG1sKy9pbWFnZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZmRlbGF5ZWQuanNw

PF Nav - $2.302326

N - 0.085859

Adjustment factor - 1

N x PF Nav - 0.197674419

Reference Securities - 432 Million (When NAV is $2.50)

Compensation to pay to CATS holders - $85.39M

Therefore, everything still stands.

(NB I wonder how much the consultant got paid to come up with this formula when putting together the recap proposal....)

How did everybody go chasing this up with the company?

I still havent received a reply from the company to my latest email.

I will no doubt be putting a detailed report to ASIC in the event this is not resolved prior to Federal Court approval.

We were all instrumental in getting the improved offer for CER holders. We can and will do the same here.

This quite simply is unacceptable.

If I am on the wrong track at all with my calcs in this thread, please let me know. I am however 111% sure we have been failed in a big way.

Cheers