Hi jwtMarket value determined as follows:Staff Share Purchase...

Hi jwt

Market value determined as follows:

Staff Share Purchase Plan
To approve the issue of 15,400,000 ordinary shares under the Staff Share Purchase Plan to Directors and staff of Austpac Resources N.L. at a price representing 95% of average closing market value over the five days preceding this meeting in accordance with the terms and conditions of the plan outlined in the explanatory memorandum. These shares are paid to one cent each.
3.1 To resolve that Mr Terry Cuthbertson be issued 1,500,000 ordinary shares at a price representing 95% of average closing market value over the five days preceding this meeting in accordance with the terms and conditions of the plan outlined in the explanatory memorandum. These shares are paid to one cent each.
3.2 To resolve that Mr Michael Turbott be issued 4,000,000 ordinary shares at a price representing 95% of average closing market value over the five days preceding this meeting in accordance with the terms and conditions of the plan outlined in the explanatory memorandum. These shares are paid to one cent each.
3.3 To resolve that Mr Robert Harrison be issued 1,500,000 ordinary shares at a price representing 95% of average closing market value over the five days preceding this meeting in accordance with the terms and conditions of the plan outlined in the explanatory memorandum. These shares are paid to one cent each.
The following shares were issued under the Staff Share Purchase Plan to Directors in November 2009 following approval at the Annual General Meeting of Shareholders held on 26 November 2009:
MJ Turbott 2,000,000 ordinary shares at 5 cents each;
T. Cuthbertson 1,000,000 ordinary shares at 5 cents each;
R. Harrison 1,000,000 ordinary shares at 5 cents each.
No shares were issued under the Staff Share Purchase Plan to Directors in November 2010.
3.4 To resolve that 8,400,000 ordinary shares be issued to the staff of Austpac Resources N.L. at a price representing 95% of average closing market value over the five days preceding this meeting in accordance with the terms and conditions of the plan outlined in the explanatory memorandum. These shares are paid to one cent each.

Cheers

JAWSY:)