Ann: Application for quotation of securities - KLL, page-2

12 million options converted to shares at a zero (0) price.

I expect this is an issue of shares to contractors, for services rendered, but I cannot find anything in the annual report that says what these relate to, or who they were paid to.

The metaphorical price though, is purported to be at 15c, so it's effectively a payment of about $1.85 million dollars to somebody, which is why I expect it's probably to some contracting company for services completed, or being currently undertaken.

Other than this speculation, we have no idea, but I suppose it's better to pay whoever in shares at the moment than in cash.

Gw