Ann: Change of Director's Interest Notice, page-4

Rather than sell any of his holdings, Mark entered into a loan facility in 2023 to cover personal tax. Following a margin call, he has had to transfer more shares to Equities First.

"Mr Thompson has entered into a loan facility (“Loan”) with Equities First Holdings LLC (“Equities First”)to manage personal tax obligations. Pursuant to the terms of the Loan, Mr Thompson has transferred 1.3 million ordinary Talga shares (“Secured Shares”) to Equities First by way of security.

The term of the Loan is two years and the Secured Shares will be returned to Mr Thompson on repayment of the amount owing in accordance with the terms of the Loan. Under the Loan terms Equities First can only vote the Secured Shares as directed by Mr Thompson and Mr Thompson retains a relevant interest in the Secured Shares."


From Equities First website:

"In a share-backed financing transaction, which we structure as a sale-and-repurchase agreement, Equities First acts as a balance sheet lender and also as a shareholder. This creates a long equity position, aligning interests with the borrower who has pledged their shares for the loan. Our investment strategy does not employ short-selling; nor do we lend the shares to third parties."