Ann: Appendix 3C - Buy-Back and Cancellation of Plan Shares, page-6

Hi Kinnon, these relate to Director incentives from prior years that did not work out for them within the time period (loan period). So everything gets cancelled, the shares and the loans that were granted to pay for the shares.

These are not to be confused with this years lot of performance rights, which have vested, though shares not yet issued yet as far as I am aware. These ones will be totally free, not even a loan to pay back. Much better for Directors, they get the full SP for nothing, not just the increase.

All just my very humble understanding of it though.