Ann: TOV: TBR Declaration of Unacceptable Circumstances, page-33

"...the fact is the option was never consummated, so the checks and balances within Tribune’s corporate governance systems worked..."

I think one thing is very clear from the announcement, and that is that the checks and balances within TBR don't even exist. What is significant is that 12 months prior to the signing of the option agreement TBR received 18M shares in RND due to a very strange and failed share offering. On the anniversary of this windfall when the Corporations Act requires TBR or RND to divest their share cross-holdings a ludicrous deal with RCL suddenly appears......coincidence?....I'm not inclined to think so.

This is the strange appendix 3y when Trans Global was removed from Billis' declared interest:

https://www.asx.com.au/asxpdf/20120803/pdf/427v78qzkc2fs5.pdf

Or is it this one:

https://www.asx.com.au/asxpdf/20121128/pdf/42bkds0x4sybvr.pdf

The first does lead to interesting info like:

https://www.smh.com.au/business/2-mystery-miners-owners-revealed-20110603-1fkzj.html#ixzz37UzVzi1Q

Turns out though Billis is in fact still the owner and director.