Ann: Change of Director's Interest Notice PB, page-29

The specific point I took issue with was your statement as Ando pointed out as well “IMO it would be reckless for management to be sending some sort of signal to the market by buying loads of shares” There are countless books written by investors that are far better than certainly me and probably you too that look for insider buying as a signal of confidence. It’s called skin in the game and putting their money where their mouths are. And frankly AFAIC performance rights don’t count. So I just fail to see how you could categorise it as reckless. Personally I would see it as a massive confidence signal that things are on the right track and they were sure that a positive FID is on the cards. I don’t think I’d be alone in that view. Apart from PB I would describe the rest of the boards holdings as token at best, others may describe it as inadequate. The board by not participating in a more substantial manner have missed a golden opportunity considering PB is on record as expecting the FID mid next year.