Please wear fireproof gloves when reading this prospectus, page-6

Komodo’s present relevant interest (which is nil) and changes under several scenarios are set out in the table below and are based on the assumption that Komodo (or its nominee) takes up the maximum amount of shortfall it can under its sub-underwriting arrangements.


The Directors (other than Peter Landau who has a material personal interest in the Resolution) consider that Shareholder approval pursuant to Chapter 2E of the Corporations Act is not required in respect of Komodo’s sub-underwriting of the Offer because the Shares will be issued to Komodo (or its nominee) under the sub-underwriting arrangements on the same terms as Shares issued to non-related underwriters and sub-underwriters of the Offer and as such the giving of the financial benefit is considered to be on arm’s length terms.

RB