27-Jan-06 Announced that the Board had resolved to accept subscriptions for a total of 22,329,859 million shares at 11 cents per share to raise approximately A$2.5 million. The majority of the shares will be placed with a major international equity investor based in London, with the remainder to other international investors.

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6th-Australian Institute of Management WA20,000
7th-Murdoch University16,584
8th-South Regional TAFE10,549
9th-Central Regional TAFE9,064
10th-The University of Notre Dame Australia6,708
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