large director purchases above market price

Note the Appendix 3Y today...

Last traded price on the market - 17.5 cents

Director Purchases - (as per ERL Share Plan)

David Sargeant - 700,000 units at 18.8 cents ($141,000)

Adrian Jessup - 500,000 units at 18.8 cents ($94,000)

Adrian Griffin - 500,000 units at 18.8 cents ($94,000)

It is always promising when directors buy large parcels of shares that are NOT at a discount to the last traded price.

(note that the 'market price' for parcels of this size is in reality very different from the 'last traded price'. ERL can be bought currently for 19.5 cents, but not in these large amounts.)

DYOR