In addition to the usual resolutions which are considered at an...

In addition to the usual resolutions which are considered at an annual general meeting I would like to
draw your attention to resolutions 9 to 13 and 16. None of the directors of the Company have been paid
any part of their approved remuneration of A$40,000 per annum since 1 January 2014. As a means of
conserving the Company’s cash reserves, all the directors including myself, have agreed to waive our
right to cash remuneration for the period from 1st January 2014 to 30th September 2014 (inclusive) in
substitution for shares in the Company. Further, we have agreed that our fees are to be discounted by
25% for the period from 1st January 2014 to 30th September 2014 (delivering a total reduction of
A$37,500, or A$7,500 per director), and for those fees to be paid by way of ordinary shares of 0.01p each
in the capital of the Company ("Ordinary Shares") at a price of A$0.0029 (0.29 cents) per Ordinary Share.
In my capacity as Chief Executive Officer of the Company, I have also agreed to waive my right to be paid
in cash remuneration for approximately 50% of the value of fees owed to me from 1 October 2013 to 31
August 2014 inclusive, in substitution for Ordinary Shares (50% having been paid, or to be paid, in cash).
Resolutions 9 to 13 and 16 seek shareholder approval for the issue of the Ordinary Shares to directors in
lieu of cash remuneration.