Ann: Voluntary Administration, page-2

It is an absolute disgrace how this company has been run by Illingworth and the most recent board. I am gutted by this decision as I have been a shareholder since the Batavia days. This decision will have repercussions for all iron ore juniors. Investors and funders will now be risk adverse to all iron ore juniors in the current climate. I will be speaking to solictors about the conduct of directors and board of this company. Shareholders had a right to know of Ren's approach to the board to buy the remaining shares. Shareholders also should have been made aware of the company's financial position way before now. I want to know how the money was spent. How much was paid to director's related entities and what for???????? An absolute disgrace.