Ann: Release of Securities From Escrow, page-10

I believe that's correct Thanky.

One of the provisions of the IPO was the creation of 20 million performance rights (10 million for the former Chairman Richard Wilkins, and 10 million for the former CEO Peter Holton), presumably in recognition of their role in developing the technology, and subject to defined company revenue performance in each of its first 3 years as a listed company .

The performance rights were to vest in 3 equal tranches if specific revenue targets were met in 2017/18, 2018/19 and 2019/20. The revenue targets weren't particularly onerous (in my view) and were well exceeded in 2017/18 and in 2018/19.

When Darren Cooper took over as Chairman, Richard Wilkins renounced his entitlement to the 3rd tranche of performance rights and Peter Holton did the same when Gerard Dyson took over as CEO.

So by my reckoning 6,666,666 of the original 20 million performance rights allocated to the original senior management have been renounced and have either been cancelled, or are in the process of being cancelled by deeds of cancellation.

zeno9