Ann: Appendix 4C - quarterly, page-10

Yep if they lodge for Dec and get fav op  we are just back  3 months.

I adjusted Steve Mercer Sales Forecasts back and allowed for an increase of  60M shares inc CR. Note Assumes fav op Dec and CE Jan.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9	Column 10	Column 11	Column 12
0	TIS Sales Estimates Issued (Post CE)						M's
1		2014	2015	2016	2017	2018	2019	2020	7 Yr Total
2	SM's Sales	-	22.0	85.3	246.9	522.4	633.3	754.6	2,264.5
3	QOQ Grwth		53.0%	27.7%	33.7%	5.1%	4.7%	4.2%
4
5									M's
6	Quarter Ended	Sales	Margin	GP	Qtr OH	NPBT	TAX	NPAT	SHARES	EPS PQ	PE	Implied SP
7	Dec/14	-	75.0%	-	2.50	-    2.50	-	-    2.50	270	-$ 0.0093	21	Speculative
8	Mar/15	2.6	75.0%	1.95	5.00	-    3.05	-	-    3.05	330	-$ 0.0092	21	Speculative
9	Jun/15	4.0	75.0%	2.98	5.00	-    2.02	-	-    2.02	330	-$ 0.0061	21	Speculative
10	Sep/15	6.1	75.0%	4.56	5.00	-    0.44	-	-    0.44	330	-$ 0.0013	44	Speculative
11	Dec/15	9.3	75.0%	6.98	5.00	1.98	-	1.98	330	$ 0.0060	44	$1.06
12	Mar/16	14.2	75.0%	10.68	7.50	3.18	-	3.18	330	$ 0.0096	44	$1.69
13	Jun/16	18.2	75.0%	13.64	7.50	6.14	-	6.14	330	$ 0.0186	44	$3.27
14	Sep/16	23.2	75.0%	17.42	7.50	9.92	3.0	6.95	330	$ 0.0210	44	$3.70
15	Dec/16	29.7	75.0%	22.26	7.50	14.76	4.4	10.33	330	$ 0.0313	44	$5.51
16	Mar/17	37.9	75.0%	28.43	10.00	18.43	5.5	12.90	330	$ 0.0391	28	$4.38
17	Jun/17	50.7	75.0%	38.01	10.00	28.01	8.4	19.60	330	$ 0.0594	28	$6.65
18	Sep/17	67.7	75.0%	50.80	10.00	40.80	12.2	28.56	330	$ 0.0866	28	$9.69
19	Dec/17	90.5	75.0%	67.91	10.00	57.91	17.4	40.54	330	$ 0.1228	28	$13.76
20	Mar/18	121.0	75.0%	90.78	12.50	78.28	23.5	54.79	330	$ 0.1660	28	$18.60
21	Jun/18	127.2	75.0%	95.40	12.50	82.90	24.9	58.03	330	$ 0.1758	28	$19.70
22	Sep/18	133.7	75.0%	100.26	12.50	87.76	26.3	61.43	330	$ 0.1862	28	$20.85
23	Dec/18	140.5	75.0%	105.36	12.50	92.86	27.9	65.00	330	$ 0.1970	28	$22.06
24	Mar/19	147.6	75.0%	110.73	15.00	95.73	28.7	67.01	330	$ 0.2031	28	$22.74
25	Jun/19	154.6	75.0%	115.91	15.00	100.91	30.3	70.64	330	$ 0.2141	28	$23.97
26	Sep/19	161.8	75.0%	121.34	15.00	106.34	31.9	74.44	330	$ 0.2256	28	$25.26
27	Dec/19	169.4	75.0%	127.02	15.00	112.02	33.6	78.42	330	$ 0.2376	28	$26.61
28	Mar/20	177.3	75.0%	132.97	17.50	115.47	34.6	80.83	330	$ 0.2449	26	$25.47
29	Jun/20	184.7	75.0%	138.50	17.50	121.00	36.3	84.70	330	$ 0.2567	26	$26.69
30	Sep/20	192.3	75.0%	144.26	17.50	126.76	38.0	88.73	330	$ 0.2689	26	$27.96
31	Dec/20	200.3	75.0%	150.25	17.50	132.75	39.8	92.93	330	$ 0.2816	26	$29.29
32		2,264.5