Ann: Daily share buy-back notice - Appendix 3E, page-12

Given how cosy management have proven to be with certain investors I am fairly confident an indication of an upcoming divi payment will be conversion of the remaining outstanding options just prior to a divi announcement.

Well that is if a meaningful divi is going to be paid.

Certainly the largest shareholder has positioned it's options to take advantage of any divi payment this financial year, thats why SHers were ask to pass a certain resolution allowing a larger % holding.

Like I say these options will be converted with a nudge nudge wink wink from management about an up coming dividend which in turn will create another 25% dilution for SHers.

No wonder no new insto will touch this company.

Reality is this company is run more like a privately owned venture.