THE EXEMPT SHARE PLAN - OPERATION

Steps

1. Employer makes a tax deductible contributions or tax deductible issues of shares to the ESP Plan Trustee.
2. Employer makes offers of $1,000 worth of free shares to all permanent employees.
3. The ESP Plan Trustee allocates share entitlements worth $1,000 to each Participating Employee.
4. Shares are held in the ESP pending the earlier of:
   • termination of employment; or
   • a period of three years.