Ann: Amended Appendix 3B, page-6

Well, he responded to me by email:

"Both the shares and the pricing reflect the post-consolidation position.  

Shareholders approved the issue of 10,000,000 shares at 10c per share to 12 executives at the 2015 AGM held on 22 April 2015.  On a post consolidation basis this reverts to 500,000 shares at $2 per share.  Following completion of the testing period for the achievement of KPIs leading to the granting of the shares for the year ended 31 Dec, it was resolved to allot 485,242 shares to remaining eligible employees."

It's not as bad when you look at it as spread across 12 Executives, but to issue an incentive for a KPI achievement is a bit of a joke. Revenues down, Transactions Down, Shareprice destroyed, Dilution and Incentives up..

Not sure we can do anything about it - but one thing is for sure the new team they're hiring look much better so hopefully they can turn this business around. New app runs much smoother than LAZADA but they have 50m+ users compared to our less than 1m..