Ann: Change of Director's Interest Notice, page-116

There are directors on boards who do not hold shares in the company they represent. Does that the follow that they don't have loyalty to that company?? It is a job, a good paying one usually, however, how many of us have interests and loyalty in the company we work for aside from getting paid?? Do you have to have loyalty to do a good job or is it more to do with a good work ethic??

It is not a prerequisite for directors holding directorates in their companies to hold shares prior or during their tenure, and nor is it a requirement that in the event that they do, they are obligated to hold so as to please some shareholders in any impending news flow. Like you and I and others, including Pattersons and Bell Potter, they are at liberty to buy/sell any time, though unlike you, I and others, they may be subject to blackout periods.

The director sold down (and still holds a large portion) at a time that was convenient and profitable for him to do so. No one knows the real reason for his timing or possible financial needs - that is his business. Why don't some grill Pattersons and Bell Potter as to their actions??

Accusations of insider trading are unfounded and is just conjecture.