Ann: Silex and SQC Sign Expanded Commercial Arrangements, page-23

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Here is where it states how the number of shares will be cacalculated .PLEASE TAKE CAREFUL NOTE OF THE FIRST SENTENCE WHICH CLEARLY STATES AT 7F.2

THE LESSER OF

7F.2 Any other information the entity wishes to provide about the proposed issue Thenumber of subscription shares will be the lesser of i) the number of fully paid ordinary shares equal to $2m divided by the volume weighted average price (VWAP) of SLX for the 10 trading days from the date of this announcement; or ii) 493,827 fully paid ordinary shares.