Ann: Appendix 3Y - Guido Arnout, page-107

Be interesting to see an updated T20 to see any movement since the Annual Report. (It would probably be significant if any new big holders show up.) Anyone accessed that recently?

Guido ... what's his age? I seem to remember he's in his 80's. If you were in his shoes and held 8m plus the 15% sales pool bonus - wouldn't you sell a few now to realise (USD150k seems to be the final likely figure he'll get) some cash for a good time (when he might not have a long time - health?) He has to sell sometime to fund the options anyway.

BUT ... better to sell higher if likely, before the 5.5's expire early next year.

Which is why DMcA's 7m 5.5's are so significant. He's the one in greatest control here. I don't know if he has a black-out period to comply with - but he's now watched the SP sell-off from 21c twice and failed to sell any to exercise options.

He's the one I'm watching. (Could be some cheapies next week.)

Sales Bonus Pool ... the real goal obviously starts over USD550k ... AUD770m+ an SP of 44c

I wonder if there's another technical upgrade announced before DMcA's Belgium trip ... then it's a question of a sale sooner or later versus risk:reward.