Second letter to Mr. Longo, Chair of ASIC, page-20

The OM report followed a formula which I abhor.

One poster said they had read the report and stated that it had no facts. I read it - there are plenty of mundane facts but the inferences made from those facts were a very long bow, certainly not conclusive but did perhaps raised doubts and maybe suspicion in some peoples eyes. the evidence they produced of wrongdoing is no stronger than the ASX's accusations that are couched in such weak terms as: might have, we believe that, looks like etc.

I would be horrified if the ASX solely relied on this OM report to make the suspension.

It's been a good week for holders but too early to be optimistic on a settlement given that the public don't have all the information yet.