Ann: Appendix 3B Exercise of Options, page-18

Rajenp5,

all performance shares and oppies, listed and unlisted, were part of the reverse t/o in January 2016. The only dilution was due to the CR, which I agree was totally unnecessary but back then the management couldn't foresee the withdrawing of ERGON and ENERGEX contractors due to the cyclone in QLD and NSW.

The current oppies can be converted and would actually generate extra cash. All the performance shares and oppies are already incorporated in LPE's MC shown on HC while the actual number of shares free available is just half of that, about 1.2b. The rest is escrowed to at least January 2018.

The sp will really take off once the instos get the green light to buy - when LPE announces cash flow positive quarters, HY and FY. That will start with the 4C in September.

Anyone with some patience will load up as much as possible at these bargain prices before the big guys start to join the party. And as LPE turns into a golden cash cow soon a t/o is always on the cards.

GLTA and thanks to the 2.6c seller. Or could someone even top that, I got another at 2.5c. Love the EOFY selling.