announcement, page-24

Hi jamie67

I was thinking of working something out along the same lines, you've saved me the trouble. Thanks

I think your A$4 is a fair price to use, that was certainly the expectation at the time. The $1.70 you come up with is for the staff just to break even. I wouldn't be surprised if there was a sweetener beyond that, considering the terrible timing re finding new jobs etc.

Certainly when they did the deal, the mathematics would have been similar to what you have done. Would need to know the holdings of the 60c options to get a more accurate figure.

On a different subject, it's hard to fatham why that seller has 631k on at 40c. If you are serious about selling - that is certainly NOT the way to go about it.