Ann: Director Resignation , page-2

Notice of Annual General Meeting/Proxy Form - 28/10/2010

"6. RESOLUTION 6 - GRANT OF OPTIONS TO MR. SADLEIR

Resolution 6 seeks the approval of members to grant 500,000 Options to Mr.Sadleir.

The object of Resolution 6 is to provide Mr. Sadleir with a mechanism to participate in the future development of the Company and an incentive for his future involvement with and commitment to the Company."

Refer:

http://www.asx.com.au/asxpdf/20101028/pdf/31thld14mkjwlh.pdf

I'm sure that Mr. Sadleir is fully intending to relinquish his entitlement to these 500,000 options as they were gifted to him by the company shareholders on the basis that they were granted as an incentive for his future involvement with and commitment to the Company and he didn't hold up his end of the bargain.

Why is everybody laughing?


Stagman