Ann: Appendix 3B and Section 708A(5)(e) Notice, page-37

Apologies to all if my sense of humour was taken as flippant. I value your responses. It appeared to me that someone associated with the company felt pressed to exercise those options now and provide necessary capital for the company rather than achieve even greater personal gain by waiting for a higher share price (although $1M ain't bad). That someone may have a large share holding and stands to gain more by the company succeeding rather than by profiting from some options. If so, it is a signal that the company is in need of capital, at least temporarily. That is why I interpreted the episode as a "capital raise" (although not technically the correct term) as did the market judging by its reaction.