Ann: Capital Raise, page-9

Hi ferrisb... totally agree.

From the ann.,:-

Placement details
• 625,000 new ordinary shares (as noted above);
• 500,000 initial unlisted Options, expiring 4 months after issue with an exercise price of $10
(Initial Options); and
• subject to shareholder approval under ASX listing rule 7.1, 330,000 unlisted 2-year Options
with an exercise price of $15 (Further Options). These Further Options will vest only if all
Initial Options have been exercised. If shareholder approval is not obtained and the Initial
Options have been exercised, Investors will instead receive a cash payment of $1.25 per
Further Option.

My bolding-- and not clear on the 'Investors ..........' - The L1 Cap or 'investors' us ! Nah has to be L1 Cap ?