afr article, page-3

Hi Finch

Main items:

- The company is focused on WA. Sydney admin to relocate to WA
- Recapitalisation is being considered
- Operationally the business is viable
- Admission that they paid too much for the assets and over-geared
- Company may offload 2 pubs (depending on offers)
- Talks continue with banks re: covenant breaches
- Roland Hill has been meeting with a number of publicans and other executives to find new directors
- Immediate focus is to get the annual report signed off and remove the trading suspension
- Major shareholder is looking to resolve Compass's issues independent of Hill (sorry, forget the details)