Ann: Response to Media Speculation, page-111

The AFR article "Oaktree considers white knight approach to Blue Sky" by Sarah Thompson & Anthony Macdonald is a lot more balanced than anything put out by Joe Aston. In particular, they say, "The proposal is not expected to be a loan-to-own type deal, which is often how Oaktree has done business in Australia, or an equity investment, but rather a debt instrument." This would be very good news for BLA, putting to rest any remaining questions about theIr cash flow. In addition, Oaktree are no mugs, so for them to do such a deal would be a very strong vote of confidence for BLA's internal health. The SP would definitely jump on the back of that deal.