ventracor administration

Email from Administration:

I confirm that Peter Gothard and myself were appointed as the voluntary administrators of Ventracor Limited on 19 March 2009.

As you would readily appreciate, it is very "early days" in terms of the administration of the company, however, based upon my preliminary enquiries, I can advise you that the Company does have creditors and indeed those creditors may well exceed $4 million in value. Accordingly, I need to have regard to the best interests of the Company's creditors in and about the immediate future of the Company.

The first meeting of the creditors of the company will be held on 31 March 2009 at 11.00 am at the Four Seasons Hotel, 199 George Street, Sydney. I attach a copy of the notice to creditors that has now been issued.

Whilst that is a meeting of creditors of the Company, I have no objection if you or indeed any other shareholder wishes to attend the meeting as an observer. It would certainly be a useful opportunity for you to hear about our preliminary views on the Company's financial position and its immediate future.

Should you wish to discuss this matter, please do not hesitate to contact my office.

Regards

S J Sherman
Administrator