RED ALERT - GENEX INDEPENDENT LEGAL OPINION ON THE PRIVATISATION TAKEOVER BY FARQUHAR/JACKSON.

aclemence asked me, for a second time, if I had independent legal advice, particularly concerning the Skip Capital privatisation takeover scheme devised by Jackson/Farquhar and associated parties. The implications for the $610 million taxpayer funded concessional loan remain unclear despite repeated questioning, most particularly of the Chair and CEO of NAIF.

Imagine the cost of independent legal advice and why contemplate that when government and government instrumentalities, (NAIF), have such services at hand; if they are prepared hear what they might not want to hear?

In responding to aclemence I asked if he had asked the board and management of Genex Power Ltd if they had obtained independent legal advice. Asking that question led me to refer aclemence's question to the Chair and General Counsel of Genex:-

IndependentLegal Opinion about the proposed Privatisation Takeover by Jackson/Farquhar

[email protected]

[email protected]

DearDr Ralph Craven, (Chair) and Ms Ana Gomiero, (General Counsel).

Another Genexshareholder on the HotCopper website has asked me, for a second time, if Ihave obtained independent legal advice on the legal implications of theproposed privatisation of Genex Power Ltd.

I have againresponded to him by pointing out that NAIF, the two Ministersresponsible for the NAIF Act and the FirstAssistant Secretary advising the ministers have a responsibility to obtain alegal opinion, concerning Commonwealth law, from the Solicitor-General.

You will be awarethat the Chair and CEO refuse to say if NAIF has approached theSolicitor-General with a formal request for said legal opinion.

Perhaps you are notaware that on 19 August I asked NAIF if Jackson/Farquhar would be required topay out the concessional loan if the takeover proceeds any further than italready had; (19.99%). Again, NAIF refused to answer.

In response to theother shareholders question, I asked if they had asked the board and managementof Genex Power Ltd if Genex had obtained an independent legal opinion on theFarquhar/Jackson scheme.

If Genex did obtainindependent legal advice, did it give the green light to transferringthe benefits of the taxpayer funded concessional loan from the ASX listedGenex to a privately owned entity, owned and controlled by Jackson and herhusband?

I now ask; doesGenex Power Ltd have independent legal advice? Can and will that advicebe shared with Genex Power Ltd shareholders via an ASX Announcement?

Yours sincerely

Howard Patrick

Howard Patrick

Can but wait and see if Dr Ralph does the same as CEO Harding does; ignore correspondence?

As I told aclemence, I intend writing to the Attorney-General, Mark Dreyfus, to inform him of the apparent connivances which seem to have gone on to prevent the Solicitor-General providing an opinion on the Commonwealth law aspects of the privatisation takeover..