Ann: Response to Appendix 3Y Query, page-2

So, the ASX is getting excited and working itself into a froth that some old options that expired out of the money ... in their view ... constitute a change in holding, because the options have expired.
Firstly, the ASX objection is petty and pedantic: are there not serious compliance issues for the ASX to be looking into? Because, this issue is frivolous and a waste of everyone's time.
Second, I don't think it is clear that the ASX view is correct even on a technical level: the lapsing of an option mid-term is different to the natural expiry of an option, the latter of which all information was already publicly known. Had the director exercised the option - well, yes - that is a notifiable event. Was there any practical change in the director's right to purchase shares: No - particularly given that the options were out of the money prior to expiry. Waste of time.