Ann: Appendix 3B, page-3

Actually on checking, the placement shares have yet to be issued so we will have 124 million shares on issue from 17 January and the market cap at 32 cps is almost $40 million or double the pre-placement market cap at 25cps. It will be interesting to see whether the new shareholders are for the long term or will take profits. Presumably an institution built up a stake by buying options for almost nothing. The half yearly report had better be good.