Ann: VR8 dual listing on Frankfurt stock exchange, page-24

Hi Jiff.

Only silly question is one not asked

We have about 492m shares and options listed and unlisted.
492m by 13.5c is $66.5m AUD

Our real market cap is 74% of the project as we have 74% ownership. To realise full project you need to add the other 26%. based on 66.5M AUD being 74% the project at 100% is $89.8M AUD roughly. Then there is the FX for this at 70.88c USD to the dollar so that makes the MC $63.628 USD

I had that around the wrong way, and so, on that we are a tad over 6% and there is plenty left to go.

Wow what a ripper error, so glad you asked your question!