Ann: Offer to RLEOA Option Holders, page-11

Possibly the most disconcerting part for me is that they are desperate to maintain some kind of shareholder support which suggests shareholders are unlikely to be rewarded anytime soon with the release of anything positive to provide a genuine increase to the actual SHARE price. That would have been sufficient to overcome any negative sentiment created by the expiry of the A’s so I guess this bandaid is simply to pacify again and coupled with the recent CR is starting to smell very off to say the least. Groundhog Day... just a different way of shafting shareholder and option holders. Was disappointed for the LTH’s holding A’s but shafting the B holders surely isn’t the way forward or do the majority think this strategy encourages confidence and investment in the business... Expiry date means exactly that and moving the goal posts and changing the nature of the original offer to appease shareholders is simply misleading to genuine investors in the B’s. Had they stated, hey Guys if the A’s expire before the 15th April we will offer B’s at a substantially discounted price to “on market” to compensate... who would have paid A$0.03+ in the interim? Make the offer available to both A and B holders to maintain a level playing field or ADD some real value to the share price whereby we all benefit.

Rant over.

Good Luck All