Ann: Change of Director's Interest Notice, page-5

Years ago (probably 2014) I researched Don McLay's trades, and I decided that he was simply selling to hand money to his heirs, or diversifying his investments. His share disposals impact the SP, but they have little to do with the health of the company, and as I am in for the long term, I do not look to the SP-related effect of his activity as a clue to anything going awry with the company. I do not know what Don paid for his shares, but it would have been a very low price ($3.00 for the want of a number).

I found that research today, and the oldest transaction that I could then find via my online broker was in 2012. Don McLay has been selling down his CCP holding since the shares were about $8.00. The oldest trade that I had recorded is:

Date of change 21st and 22nd November 2012
Securities held prior to change
138,677.. Donald McLay (Direct)
19,458..... Nagarit Super Fund (Indirect)
2,120,415 Torres Industries Pty Ltd (Indirect)
2,278,550 TOTAL

Acquired 3,472 Torres Industries Pty Ltd (Indirect) for $26,908 – $7.75 each
Disposed 27,227 Torres Industries Pty Ltd (Indirect) for $219,181.87 – $8.05 each
............... 38,677 Donald McLay (Direct) for $311,357.59 – $8.05 each

Securities held after change
100,000... Donald McLay (Direct)
19,458..... Nagarit Super Fund (Indirect)
2,096,660 Torres Industries Pty Ltd (Indirect)
2,216,118 TOTAL