Incitec Pivot Ord Shs T.IPL

RE:RE:RE:RE:RE:RE:ASE hearing today Starting at 8.30 am

[Ariahp]

Without Prejudice:

Listening again and giving you of what I understand....potentially I may make a mistake. So take it for what it is worth

Some one Representing STAFF, I dont know who that is making EXCELLENT points that somewhat supporting IPL/PPL.

This dude (Mr Robson) is deliberate in his presentation and his points are EXCELLENT. He talked about Swaps and with the swap agreements BF has 19.75% interest. BMO gets $15m fee  on BF win.

BF"s Lack of disclosure of their SWAP benificial interests of up to 19.75% has an impact on the investors, who sold earlier.

There is a lot of Logical arguments being presented on the manner in which BF proceeded to solidify its position starting in the spring of 2020....and this was done without any disclosure to the public.

BF's lawyer argued that no ordinary investor needed to read an onerous Swaps agreement as it would be difficult to comprehend the document.....I guess its like saying dont read your mortgage document as you will not understand it......basically TRUST us.. That to me is slimey.

This is the first time I have heard this sort of hearing and I found it Facinating. Too much to digest for a Pesant like me, but interesting none the less.

Now on a 15 minute break.

GLTA