Ann: Appendix 2A, page-10

I don't know why I have to do your research for you.

This is in the original announcement relating to the notes. New funding for capital expenditure and working capital dated 22 April 2020.

"Each Note shall be convertible into new Shares of JAT determined by dividing the
Australian dollar equivalent of the face value of the Notes to be converted by the
lower of (a) 95% of the lowest daily VWAP during the 10 trading days prior to the
date of the Conversion Notice and (b) 7.95c."

Its the lowest daily VWAP in the 10 day period. We had 2 days of 1.9 in the last 10 Days.

It does seem like the VWAP predator allowed, if not encouraged the SP to rise so they could sell into it. I would say more only allowed, as most know this will fly when this crap stops.

There is only 796 notes left thank goodness. Jatcorp should have clear air after that.

GLTAH DYOR