option conversuion may be holdding back sp, page-12

Further to my last re exercising of options

The 20mill 25c options expiring June 2009 were also supplemental options that originally expired June 2007.

Back in June 2007 no options were exercised, so I see no reason why the options expiring June 2008 will be either. They will simply be replaced with the supplementary 30c options expiring June 2009.

If any holders of these options wanted to exercise, they could at any time, not just June 30. I see no reason why they would bother exercising them until they are forced to June 2009.

look at asx announce 30/12/2005 appendix 3B
http://www.asx.com.au/asx/statistics/announcementSearch.do?method=searchByCode&issuerCode=mae&timeFrameSearchType=Y&year=2005