Now in play..., page-12

Afternoon All,

Interesting conversation.

From recent announcements:

Polo have 17.66% of voting rights & Mazil have 15% with GCG retaining only a very small percentage.
Total approx. 33%

On the side of existing management we have:

Murphy 6.3%
McMahon / Kingsreef? 5.31%
Widerange? 3%
Cazaly 1.41%
Mmt say 1%
Total approx. 17%

Then we have:

The balance of the top 20 with around 13%
Lanstead with 7.2%
small / medium share holders approx. 29.8%

So provided that the balance of the top 20 and Lanstead vote with management (37.2%) and the default GCG notes do not get converted, management should be safe at the upcoming general meeting especially if the smaller holders move to support them.

I daresay management will also be closely monitoring changes to the share register and could still move with a placement to dilute Polo / Mazil / GCG if needed.

Note that these % are guestimates - feel free to correct.

Cheers,

Barry