Ann: Successful completion of $1.95 million entitlement offer, page-14

I think the mention of illuminate is pertinent here. GER paid 3m largely in shares at 8c for 5m work. I think their chair of illuminate also bought shares at that price. So I dont think you can say they overpaid for the purchase.

Since then the illuminate side of the business has been slower in terms of new work and possibly the rebranding and incorporation into the viv structure has been slower to deliver on the synergies. There have been a couple of announcements recently that suggest improvements on that front. However I think the industrial lighting side is growing quite nicely. Just my opinion.