Ann: Right to buy out remaining holders, page-116

Here is my take on what is happening at present.

On 13/8 Taurus announced they were proceeding with General Compulsory Acquisition, and had advised ASIC of this.

ASIC then had 14 days to select an expert (from their panel) to complete a new IER. The 14 days expired on 27/8.

I would assume the process to have a new IER completed would commence immediately.

It's an educated guess to know how long this will take to complete. It's hard to know exactly how long the original IER took to complete. I suspect this was somewhere between 2 and 4 weeks. It reads as around 2 weeks based on announcements earlier this hear, but I believe it may have been a little longer. This argument is supported by the fact that Deloitte wanted 2 weeks to complete a supplementary IER a few months later.

I believe the first we will know that the new IER has been completed will be when Taurus announce to the ASX that they are sending shareholders ASIC Form 6024. This announcement will include a copy of the IER, an objection form and will also confirm what price they will be offering us for our shares.

We will then be fully informed and able to make a decision about whether to accept the new offer or object.