the purpose, page-4

Point 3
"RESOLUTION 2 – APPROVAL OF 10% PLACEMENT CAPACITY
To consider and, if thought fit, to pass, with or without amendment, the following
resolution as a special resolution:
“That, for the purpose of Listing Rule 7.1A and for all other purposes, approval
is given for the issue of Equity Securities totalling up to 10% of the issued
capital of the Company at the time of issue, calculated in accordance with
the formula prescribed in Listing Rule 7.1A.2 and on the terms and conditions
set out in the Explanatory Statement.”
Voting Exclusion: The Company will disregard any votes cast on this Resolution by anyperson who may participate in the issue of Equity Securities under this Resolution and a person who might obtain a benefit, except a benefit solely in the capacity of a holder of ordinary securities, if the Resolution is passed and any associates of those persons.However, the Company will not disregard a vote if it is cast by a person as a proxy for a person who is entitled to vote, in accordance with the directions on the Proxy Form, or, it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in
accordance with a direction on the Proxy Form to vote as the proxy decides.

EXPLANATORY S TATEMENT
This Explanatory Statement has been prepared to provide information which the Directors
believe to be material to Shareholders in deciding whether or not to pass the Resolutions
which are the subject of the business of the Meeting.

3. RESOLUTION 2 – APPROVAL OF 10% PLACEMENT CAPACITY
3.1 General
ASX Listing Rule 7.1A provides that an Eligible Entity may seek Shareholder approval at its annual general meeting to allow it to issue Equity Securities up to 10% of its issued capital (10% Placement Capacity).The Company is an Eligible Entity.If Shareholders approve Resolution 2, the number of Equity Securities the Eligible Entity may issue under the 10% Placement Capacity will be determined in
accordance with the formula prescribed in ASX Listing Rule 7.1A.2 (as set out in Section 3.2 below).
The effect of Resolution 2 will be to allow the Directors to issue Equity Securities up to 10% of the Company’s fully paid ordinary securities on issue under the 10%
Placement Capacity during the period up to 12 months after the Meeting, without subsequent Shareholder approval and without using the Company’s 15% annual placement capacity granted under Listing Rule 7.1.