Ann: Change of Director's Interest Notice - LD, page-15

So Zip is going to buy QuadPay for implied AUD 403 million by the issue of 119 million shares at AUD 3.39, being the 15 day VWAP on 29 May 2020; but at market of AUD 6, the "cost" is AUD 714 million.

"Financing" from SIG is by way of:-

AU 100 million CNs at 7.5% pa semi-annual (15% p.a.), which can be deferred and converted to shares at a maximum price of AUD 5.5328 (being a minimum of 18,074,013 shares and any additional shares if interest is deferred and converted); and,

Issue of free warrants to exercised at a maximum of AUD 5.1639, being a minimum of 19,365,208 shares

In the 3 trading days to 22 May 2020 the directors Diamond, Gray and Crutchfield sold down 7,803,433 shares at VWAP of AUD 6.12.

I followed the directors actions by selling my SMSF shareholding at AUD 6.01 today.