The Company announces that an Annual General Meeting ("AGM") has been convened by the Company at 9.15a.m (AEDT) on 17 March 2021. The meeting will be conducted as a virtual meeting.

The meeting will seek approval for, inter alia:

(a)       Capital raising initiatives, including an underwritten rights issue to raise approximately A$2.2million (see 1.1(e);

(b)       Restructuring of the board of directors and realignment of roles and responsibilities, subject to satisfactory due diligence being completed on the nominated directors by SP Angel Corporate Finance LLP, the Company's nominated adviser (see Section 1.2);

(c)       Conversion of outstanding convertible notes in issue into shares under the Replacement Convertible Note and the Follow-on Replacement Convertible Note to Lind Global Macro Fund LP;

(d)       Extinguishment of outstanding obligations to existing non-executive directors as well as obligations, in part, of the Executive Chairman for services;

(e)       Placement of shares to nominated new directors and the incentivisation of the nominated new directors with the issue of options, subject to satisfactory due diligence being completed on the nominated directors by SP Angel Corporate Finance LLP, the Company's nominated adviser;

(f)        Placement of shares to sophisticated and professional investors to raise A$0.8million capital prior to the capital raisings set out in (a) above;

(g)       Settlement of outstanding claims against the Company brought by certain shareholders (ASEAN, Sartingen, Pre-Emptive Trading Pty Ltd) with an agreed issue of shares and options (see Section 1.3); and

(h)       Consolidation of shares on a 13 for 1 basis to attractive new investors for larger capital raisings over time.

Please refer to this link to view the full Notice of Meeting: http://www.rns-pdf.londonstockexchange.com/rns/0815P_1-2021-2-15.pdf

The proposed transactions with the Directors, Lind Global Macro Fund LP, ASEAN Deep Value Fund, Pre-emptive Trading Pty Ltd, as more particularly set out in this notice, are deemed to be related party transactions pursuant to Rule 13 of the AIM Rules for Companies.  Paul Heber, being the director independent of the transactions considers, having consulted with the Company's Nominated Adviser, SP Angel Corporate Finance LLP, that the proposed transactions are fair and reasonable insofar as the shareholders of the Company are concerned.

For further information please contact:

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.