what's happening at mariner?

ASIC recently commenced civil proceedings against Mariner and its 3 Mariner directors (at that time) in relation to Mariner's 2012 announcement that it intended to bid for Austock. Mariner and its directors have engaged legal advisers to mount a defence, and the defendants are co-operating with ASIC through their lawyers. While these legal proceedings are before the Federal Court, I will not be making any public statements about the proceedings. I respect ASIC's job and will continue to co-operate with ASIC in the interests of Mariner shareholders and good corporate governance.

In the meantime, Mariner is continuing to push ahead with various business opportunities. Mariner announced in late Feb 2014 the acquisition of a plant & equipment rental book. I have been spending most of my time over the last month working on that transaction.

Darren Olney-Fraser
Chief Executive Officer