On October 26, 2017, BPS Technology Limited announced that it has received a notice of a member’s intention to move resolutions for removal of the nominee directors of Alceon Liquid Strategies Pty Ltd (Alceon) and LHC Capital Partners Pty Ltd (LHC). The Company stated that the notice was submitted by Everest MB Pty Ltd, being a member of the Company with approximately 11% of the votes that may be cast at a general meeting of the Company, stating its intention to move resolutions for the removal of each of Iain Dunstan, Peter Clare, Andrew Daniele Frances Pipolo and Anthony Jude Lally (each being a nominee of Alceon and LHC) if they (or any of them) are appointed to that office at the Requisitioned Meeting of November 3, 2017 and also for the removal of any other person they (or any of them) might purport to appoint as directors of the Company.