agm chairmans address, page-7

Insto placements don't require the level of 'strategic' disclosure or detail you suggest. To go back to the market and raise additional equity is expensive and diverting. My read is that perhaps the company had lost its way a bit prompting the recent departures from the board, leaving a leaner, focused residual board and mgmt. The fact that GBST were interested in taking a placement (assume GBST approached IT&E opportunistically) may indicate that those closer to the company's pipeline recognise they are heading in the right direction.

Don't give up on IT&E just yet!

A hopeful holder....