Dear Sir
I refer to my appointment together with Justin Denis Walsh as Joint and Several Administrators of the Company on 1 March 2015. I also refer to the announcements dated 2 March 2015.
As you may be aware, trading of the Company’s shares has been suspended by the Australian Securities Exchange (“ASX”) and Alternative Investment Market (“AIM”) and it is likely to be suspended indefinitely.
As we are in the preliminary stages of the Administration, we are unable to form a substantive view as to the value of the Company’s shares. A return to Shareholders is, however, unlikely based on the information currently available.
Shareholders seeking to claim a capital loss are directed to take their own tax and legal advice on this matter. The Joint and Several Administrators are unable to provide you with advice in this regard.
If and when the Company enters into liquidation, an announcement will be made on the Company’s website.
Yours sincerely
A Nikitins Joint and several administrator Kind regards Jeremy
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Jeremy Birch
Director
Transaction Advisory Services [/COLOR][/FONT][/P] Ernst & Young 8 Exhibition Street, Melbourne, VIC 3000, Australia Office: +61 3 9655 2572