ULTRASIS - ONWARDS AND UPWARDS

Ordinary Resolution 5 in the Notice of annual general meeting 19th jan 2007 if passed, is then directed by...

SPECIAL RESOLUTION
6. THAT subject to the passing of Resolution number 5 set
out in the Notice of Meeting at which this Resolution is to
be proposed the Directors be and they are hereby
empowered to allot equity securities (within the meaning
of Article 104 of the Order) for cash pursuant to the
authority in that regard conferred on them by paragraph
(i) of Resolution 5 as if Article 99(1) of the Order did not
apply to any such allotment, provided that this power shall
be limited to:
(i) the allotment of equity securities in connection with a
rights issue or a scrip dividend alternative in favour of
ordinary shareholders where the equity securities
respectively attributable to the interests of all ordinary
shareholders are proportionate (as nearly as may be)
to the respective number of ordinary shares held by
them (subject to such exclusions or other

Note.. LIMITED TO CONNECTION WITH A RIGHTS ISSUE OR SCRIP DIVIDEND ALTERNATIVE in favour of ordinary shareholders.
This is up to an aggregate nominal value of £147,807 (item ii)

No mention of use for options and only giving the directors the immediate use of £147,807 from a POSSIBLE raising of £492,690.

I assume a further vote would be needed to use the remaining £344,883