Ann: Issue of New Securities Notice and Appendix 3B, page-3

I would not be too bothered by them being dumped for two reasons.

The option exercisers are professional investors/traders and I hope this means they see value in acquiring XTE at these prices. How much value and how soon they sell will likely depend on the full year results. If they are good the market should absorb these new shares readily. Last year XTE put out a preliminary result late July.

Secondly, one of the problems with XTE in the past has been the narrow and thinly traded share base. I read somewhere that one of the policies of the Board is to broaden the base. If these new shares end up with new buyers it will help that process and XTE should become a bit less of a fringe play.