GREENHY2 LIMITED — Director's Dealing 2008

Dec 18, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity FERMISCAN HOLDINGS LIMITED

ABN: 51 000 689 725

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Dr Ronald Cecil SHNIER
Date of last notice	13 December 2006

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct interest
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	The grant of five million options to acquire ordinary shares was approved at a members General Meeting on 10 December 2008 The options have an exercise price 32 cents The options are only exercisable in 3 tranches over a period of 3 years, with the first tranche of two million options being exercisable at any time after the date of grant, the second tranche of two million options on the first anniversary of grant, and the third tranche of one million options on the second anniversary of grant. The options expire on the earlier of the date being seven (7) days after the date Dr Shnier ceases to be a Consultant to the Company or a director of the Company for any reason, and the fifth anniversary of the date of grant.
Date of change	10 December 2008
No. of securities held prior to change	In addition to the above interest, Dr Shnier was granted options to acquire 3,300,000 ordinary shares in the Company at 30 cents which was approved at a general meeting of shareholders on 12 January 2007. 1,100,000 of these options were assigned to and remain owned by R Shnier Investments Pty Limited

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Class	Options to acquire ordinary shares
Number acquired	On 10 December 2008 a general meeting approved the grant of 5,000,000 options expiring 1 September 2013 exercisable at 32 cents, as noted above. On 12 January 2007 a general meeting approved the grant of options to acquire 3,300,000 ordinary shares in the Company at 30 cents, as noted above
Number disposed	nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	nil
No. of securities held after **change **	8,300,000 options to acquire ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	On 10 December 2008 a general meeting approved the grant of 5,000,000 options expiring 1 September 2013 exercisable at 32 cents, as noted above.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Not applicable
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002