Securities Trading Policy

The securities trading policy is put in place to govern the trading by Directors and staff in the securities of the Company. The policy requires that Directors and staff comply with all aspects of the Corporations Act and the ASX Listing Rules. The policy requires Directors to make full disclosure of any trading in the company’s securities to the ASX as required by the Listing Rules and requires employees to disclose full details to the Managing Director or Company Secretary.

Neither a Director nor an employee (or any party related to those persons as defined by the Corporations Act) may transact in the Company’s securities if that employee or person possesses information that is not generally available, and, if the information were generally available, a reasonable person would expect it to have a material effect on the price or value of the securities of the Company.

No trading of securities is allowed where a market sensitive announcement is pending. This includes half year and annual profit announcements where those announcements are likely to contain financial data which is materially different to information already in the market.