accumulation, page-49

Unless they want to fork out $2,196,581 for converting the options the options confer no voting rights.

If, and I'm only stating this to clarify not that I believe we are necessarily a takeover target, some entity wished to take over a company, they would purchase the shares on market, and/or make a deal with significant shareholders to transfer shares. If the top 20 hold approx 48% of the shares, and presumably those top 20 might be strong believers in the company's future, the shares would have to be chased up in order to persuade those holders to part with those shares.

The current shares on issue are : 64,425,654. The current options on issue are 10,532,905 plus some directors incentive options.

Now I'm not speaking on behalf of Andrew Bell, but I'm guessing he wouldn't part with his shares for less than a considerable sum of money. All this talk of Conglin Yue (that's Conglin not Conglyn if you are referring to a particular person who purchases shares in ASX listed companies) is just Talk. No significant shareholder notice has been issued. You may as well be wishing Warren Buffet take an interest in RSL.

Cheers,
Tangrams