Ann: Annual Report to shareholders, page-13

Nice pick up AzlnAsia, I haven't read those forecast yet, will continue today.

and those options are not expired, expire date in 2018 and 2019 look at the right column for expire date (they are from IPO, some for advisers, some relating to IPO), and they are well under control slowly converted to shares (nobody will through these gold options out).

And they are not negative, they all belong to the past whether its performance shares or rights, we all have to accept it. By the way, none of the giant tech company has small caps, they grow that way from my point of view.

Only thing could be negative is the fail of this tech, HX has to come out to demonstrate this new system is working, is a game changer, then everything will start from there (whether its options, performance shares or rights, or contracts, or new developments...), so step away from the market a bit, look at the tech, if it works and how advanced/efficient it will be.

And had another look at the share holding, I read the figure wrong last night, top 20 only hold 33.49% (it dropped from 2015 47.99%), that means after regal sold shares, middle holders picked them up, 361mil, held by 962 holders, average of 375K/ppl (dropped from 2015 762K as well). That means nearly all of them exchanged hands now.

And as tax issue many ppl may use multiple accounts so lets say 3 accounts/each ppl, real figure may be 320, average of 1mil/each. (even top 20 reduced holding, still highly concentrated from my point of view, worth to hold on and wait.)

Hope management not dilute shareholding anymore, and concentrate on develop HX, make it right and on time, so their performance share and options won't expire, and everybody will happy.

Good luck to us all.