Ann: Appendix 3Y - Change in Directors Interests - Osseiran-BRN.AX, page-21

DingoBorat

Here is the list of BRN restricted securities.

PvdM and Robert Mitro hold 60+% of all restricted securities in BRN and all of their securities are restricted for a period of 24 months from date of issue. Other investors have a 12 month restriction on their securities. Restricted shares issued under rights or options arrangements, such as the recent Class C performance rights, are restricted from the date of their conversion to ordinary shares (in this case, 24 months from issue date of 8 April 2016).

The earliest start date for BRN restricted securities is 10 September 2015, when the acquisition of Brainchip was complete (by Aziana, see the Half-yearly report 2015, p.6), so by 10 September 2016 investors with restricted BRN securities may choose to sell on-market.

To come to your point - it is my understanding that once the restriction period ends, security holders have to apply to the ASX to remove the restriction on their securities. I am not aware of any obligation on them to do so (and no mandatory period in which action must be taken once securities are no longer restricted).

PDVM and Mitro (the long-time former CEO of the company) were also not obliged under ASX rules to have a 24-month restriction on their securities. That they were prepared to lock their investment in BRN up for this period - until at least September 2017 - should give all BRN holders confidence and grounds for patience.

BRN's cornerstone investors know the technology and are in for the long-term!

GLTAH, DYOR, etc., R-7