Ann: PHG: Supplementary Bidder's Statement, page-2

Bidders statement section 14.8;
Allier Capital will receive a $2.5m success fee if Pulse unconditionally acquires 50% (only) of Vision shares. Allier Capital has agreed to to pay $1.25m of this fee to Viburnum if this benchmark is reached (excluding the existing Wylie/Viburnum holding of 15.91%). Same sharing arrangements exist for any debt and equity funds raised where necessary, set at a gross 1% fee for each set of relevant funds raised.

Section 14.2: Viburnum is a substantial holder of Pulse.

Section 15.7: In addition to the 90% acceptance condition, offer is conditional of items such as the reasonable basis for assuming the '2016' ebitda of Vision will be at least 95% of the '2015' ebitda midpoint guidance and there not being any appeals in the Kitchen dispute.

All very odd.