Ann: Share Purchase Plan Booklet, page-46

For anyone who is confused between buyingthe new SSP or not I have done some analysis for myself and some of my mateswho are atm in loss . Please add/correct anything I may have missed

The 5 day average of issue date of shares(7th october) suppose may be 5c 15% discount

0.5 - 0.007 = 0.0425 rounded 0.042.

Buy new shares and Keep existing NZSshares (High Risk/High Reward)

Before Shares are issued

oIf in between price goes up ...Party!

oIf in between price goes down... The 15% discount will cover the loss from price going down

After Shares are issued

oIf after shares are issuedprice goes up ... Party square (existing profit + discounted shares profit)!

oIf after shares are issuedprice goes down ... still in profit because of that 15% (depends on how much itcomes down, but should cover the existing loss from the discounted shares).

oIf after shares are issuedprice is same ... Current Loss Covered from 15% discounted shares.

Sell your shares of NZS and from thatcapital topup NZS new shares. (Low Risk/ Low Reward)

Before Shares are issued

oIf in between price goes up ...you do not make any profit

oIf in between price goes down... you donot lose more money (in this case the 5c will be less but still 15%discount will be there)

After Shares are issued

oIf after shares are issuedprice goes up ... Party!

oIf after shares are issuedprice goes down ... still in profit because of that 15% (depends on how much itcomes down).

oIf after shares are issuedprice is same ... still in profit for 15% (atleast 15%).