Ann: Loyalty Options Prospectus, page-39

Hi,

I can try to answer some of these, but disclaimer: also from a place of relative ignorance.

1) I think it might be quite difficult for the company to know at any given moment how many shares are on the ASX, and how many are bundled up in ADRs, and that number, if knowable, would be constantly changing. Considering that, it might make sense to do what they did: issue options based on all shares on issue, and just not worry about the ones that don't get used?

2) I took that to mean that ADR holders do not get loyalty options after all.

3) Can't help with this one.

4) Someone can correct me if I'm wrong, but those director escrows may have been in relation to the NASDAQ IPO, which was then replaced with a compliance listing.

5) Whether Dr Sud exercises or not is probably something that will be left up to him, right up to the deadline, like the rest of us. I'm interested to see what he does. Hopefully he exercises: I love feeling the full commitment of the BOD and wouldn't want that to change.