Re:.9.16767239721008129101565259933703 <b>9.17c roundedOnelink EDI -- ERG

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Subject: Re:.9.16767239721008129101565259933703 <b>9.17c roundedOnelink EDI

Author:
Anon
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Date Posted: 22:28:09 07/11/02 Thu
In reply to: Steve Bonkers. 's message, "Re:Total number of shares options 972,086,550 2/2/2002." on 16:41:09 02/01/02 Fri

The 75.5 million shares are added to the 848 million tradeable shares. Additional to the 848 million, there are further underlying directors options and so forth a figure of 923.5 million shares is obtained, factor in the remaining Motorola convertible notes 5.8 million in number that are exercisable into 17,486,797 shares adding that figure to the 923.5 equals 940.98679. Adding 8 million options (if certain performance criteria is met.), it does not state what the conversion ratio is assuming 1 for 1-- 948.98679 x 8.4% = 7.971489, haven't added up all the directors options yet will do so later, it does state the figure of 8.4% is approximate, I'm sure but cannot conclusively state untill I check, that it would as ERG have filed in the media release equate to 8.4% of ERG's capital, a close look at the wording once again however confirms that as the word "issued" has been omitted, the options quoted have not been exercised yet.

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948.98679 divided by the recent capital gain of 22 million (sale of EDI Downer) plus 65 million from Victorian Governement (OneLink) equals
87 million divided by 948.98679 equals 9.16767239721008129101565259933703 9.17c rounded

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Subject Author Date

8.94153968935179479672072423511526.7 <b>8.95c rounded Correction anon 22:40:52 07/11/02 Thu

983,302,611------------1,053,829,000,388----correction Steve Bonkers 03:49:14 07/14/02 Sun

It was announced on the 15.3.2002ERG was removed from the S&P ASX 100 -- Steve Bonkers, 03:51:35 07/14/02 Sun

Value created by Sydney contract(assuming a p/e of 15) (in first year) -- Steve Bonkers., 03:53:50 07/14/02 Sun