Ann: Appendix 4C - quarterly, page-66

I've sent the following email to [email protected] :

Hello,

I am a shareholder of ISX.

The recent quarterly update has shown great results in revenue growth and traction.

It would appear that some if not all the performance shares associated with revenue targets will be issued at the end of this financial year. This will obviously result in significant dilution to the company and is a concern for me as a share holder in relation to the potential volatility this may cause to the share price and confidence of other investors/potential investors.

Has it been considered by the company to seek some assurance from the beneficiaries of the shares vesting about their intentions or otherwise in relation to selling any significant portion of the converted shares?

If there is no intention on selling them (or any significant portion of them) is it possible to seek some sort of voluntary escrow period from the performance share beneficiaries? This would be a sign of good will/investor relations to other share holders. A voluntary escrow would be beneficial, in my opinion to all share holders, as it would provide confidence in the market that the beneficiaries of the performance shares are committed to the long term future growth of the company and there would not be a sudden supply of shares to the market. Possibly the escrow period could be staggered for each class of performance share?

I think it would assist in smoothing out the sudden increase in shares on issue/market capitalisation.

Thanks for your time and best regards,


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