Garry Trevor, Martin Jones and Andrew Saker were appointed Joint and Several Administrators of Western Kingfish Limited (Subject to Deed of Company Arrangement) (“WKL”) on 2 December 2008 following various fish mortalities at the Jurien Bay operations. The Administrators continued to trade WKL following the appointment however in light of the financial position and offers received for the recapitalisation and restructure of WKL a decision was made to cease all operations on 28 January 2009.

The Deed Administrators have provided their fifth report to creditors and recommend that creditors vote to accept the proposal put forward by Trident Capital to vary the existing DOCA on terms materially consistent as those detailed in the Deed Administrators report dated 7 May 2010.

A meeting of creditors has been called for Monday, 17 May 2010 to resolve whether that the company:

- Be wound up; or

- Vary the existing DOCA on terms materially consistent as those detailed in the Deed Administrators report dated 7 May 2010, put forward by Trident Capital; or

- Revert back to the directors.