Ann: Despatch of Notice of EGM and Proxy Form, page-6

I gotta say its not all the clear....

However, see above. The way I read it is 5.3 mill shares to be issued next month at the meeting to pay for arrears of fees owing. The columns in the middle shows the max (capped) amount of shares that can be issued over 3 years. So its not as bad as first thought. As cliff can only take 33% of his salary as shares each year over 3 years (so over 3 years he redeems 100% of his salary in shares 3*33%). So a max of 40 mill shares over 3 years in total for all directors or $600k over 3 years redeemable in shares.

Of course if the share price rises to say 10c in the next 6 months then the number of shares needed to be issues drops dramatically.....

Almost confused myself....