Ann: Notification regarding unquoted securities - SPL, page-11

I read this announcement and taken it as you have Joel. l am bamboozled as to how these shares have been granted considering it appears none of the conditions have been met.

With reference to the relative TSR l note that it is decided in comparison to the healthcare Index which is the yardstick. Over the 3 year period the index has remained at around 40,000 whereas the SPL SP has dropped around 70%. My understanding is this condition has not been met however each KMP has received 191,152 rights for this alongside other staff whose allocation will no doubt vary according to the capacity of their employment.

The other 2 as they put it "key strategic objectives" clearly have not been met.

To date no-one on this forum has produced any feasible explanation as to the granting of these shares and as Joel has asked can anyone enlighten us as to how this all works.

In the meantime l am writing to the company seeking some clarification.