July 23, 2009
At the recent Annual General Meeting (“AGM”) held on the 20 May 2009, the Company obtained shareholder approval pursuant to Listing Rule 10.11 to allot and issue 833,333 shares to the Masterman Superannuation Fund (“MSF Shares”) as part of the $10 million capital raising completed in March 2009.
The MSF Shares were issued to the Masterman Superannuation Fund on 30 June 2009. It has been brought to our attention that the MSF Shares were issued to the Masterman Superannuation Fund in breach of Listing Rule 10.11 (“Breach”), being a period of greater than one month after the AGM. The Company wishes to advise shareholders that the Breach was a result of an unintended and inadvertent administrative oversight.
Accordingly, the Company is seeking to remedy the Breach by obtaining shareholder approval to cancel the MSF shares and then issue the same number of shares under the same terms as approved by shareholders at the AGM to the Masterman Superannuation Fund.
The Company will hold a meeting of shareholders on 28 August 2009 to seek the necessary approvals from shareholders. Shareholders should refer to the associated Notice of Meeting for further details.
If shareholders have any queries in relation to the matters set out in this announcement they should contact the Company Secretary, Dom Del Borrello on 08 9278 2533 or via email firstname.lastname@example.org
Yours faithfully,“Graham Bradley”
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