Ann: Statement from John McGrath, page-2

Crafty statement - I like a punt - any speculation that my personal gambling can be linked to my professional career which dedicates 60 hours per week is ridiculous -

Has an account but within its terms- it’s personal and has nothing to do with McGrath Ltd - doesn’t deny claimed debt , just infers that his gambling should not be linked to McGrath as its distracting —— mmmmm- and like all Australian I love a punt- oh its al ok then for a chairman and ceo of a company which has performed like a lead balloon

Pretty much a statement to do about nothing

So if he wasn’t distracted - why the loss of 25 million plus- why the loss of high earning agents and a board of directors?

Does the company still provide unsecured loans to mr McGrath —- so unusual