Ann: Appendix 3B, page-11

So that people are better informed ...

The 151,088,015 shares that came out of escrow on 2nd March are owned by the two co-founders, David Cannington and Justin Miller and the Non-executive director Mike Ottaviano.

They were put in place on 29th Feb 2016 when Nuheara took over from Wildacres.

None of these three members of the board directly holds further shares.

There is no evidence to suggest any of the three have or would sell any shares on market. If you wish to confirm this, get yourself a list of the Top Holders as they are numbers 1, 2 and 3 currently.

The "volume" of sellers for any stock comes from a multiple of places. In the case of NUH most of the old stale holders got out long ago as shown by the holders lists. As have most of those who got in at 2.5c at the initial offering. Most current holders would have averages that wouldn't bring much profit at these levels. Although lightening oversized holdings in the stock bloated by buying more in the long period under or around 6c would be a tactic of many.

Most of the nominee accounts have sold down over time and continue to do so. The shares in those accounts were obtained at 9.2c, 8c and 6c in the four earlier raisings.

The reason suggested in the original post has no foundation.