Ann: Release of Securities from Escrow, page-7

Hotcopper's market cap caluclation on the righthand side of your screen only takes into consideration current shares on issue, listed options and escrowed shares.

It does not take into consideration:
- Escrowed options
- Performance shares
- Performance shares

This is why you have diluted vs un-diluted calculations of market cap.

To help, this is the full breakdown of THC's capital structure:

Quoted securities:
- 91.2m shares
- 31.98m options

Unquoted securities:
- 37.5m escrowed shares
- 8m Performance options
- 24.5m Performance shares
- 27.6m escrowed options (varying prices)