chart, page-14

Osi

An attempt to simplify.

The total allocation of 12,000,000 CDY shares were purchased on 25/11/13, presumably with the assistance of the interest free loan. The purchase price of 3 cents per share therefore was close to the market price at the time. Any future market price therefore is not relevant.

Apart from any small price difference at the time of purchase, the arrangement therefore is similar to anyone else choosing to take out a bank loan to purchase shares on that date, with the exception of the interest rate issue.

To compensate for the benefit of a zero interest rate, the loan conditions specify that these shares are restricted such that the recipient cannot transfer or encumber the shares within a qualifying period of three years or where the loan remains unpaid.

Control of the shares may be vested to the recipient after the end of the qualifying period or if an appropriate vesting condition (of three) is met. These conditions you have referred to in your post.

Full details of the arrangement are available in the Notice of Annual General Meeting.

It still seems like a storm in a teacup to me.

T7