Default Notice, page-11

There is light ahead for all bondholders and shareholders alike. After discussing with research specialists I have today given my Special Resolution consent vote over AXL breaches and to allow a slight modification to covenants. While the company was mismanaged to even cause breaches it's not in any dire straights. The 0.85% consent fee bond holders are being paid is also a nice bonus. I think the company has learned a lesson and will watch debt covenants closely in future. There may still be an equity sell off but I don't think it should or will amount to a bloodbath.

_{My sentiment now changed from sell on re-commencement of trading to hold.}