Ann: Trading Halt, page-576

Going to go out on a limb and speculate that the Aware letter is in relation to;

a) Clarification on FC Capital's involvement following BIG's last two announcements
b) Acquired groups (Tipsly etc) being offered solid discounts on the equity valuation during the acquisition, such as a 60c equity valuation in May 2017 when the acquisition was settled in November 2017
c) Unlikely, but perhaps a reference to the recent AFR article and FC Capital's and BIG's collateral on the 2015 balance sheet of Big Review TV

Responding to (a) could be as long winded as the questions that are asked. It would relate to governance and continuous disclosure. A lot of the information is there on the FC Capital involvement if you trawl through the records. Responding to (b), which is moreso a valuation query than a governance one, should be relatively straight forward in that the negotiations of acquisition were made 4-5 months in advance of the settlement date, effectively making BIG a victim of its own success. (c) could get interesting, because if the Aware letter refers to the AFR, then it sort of gives Shapiro license to sling more mud and see if any sticks, likely regurgitating whatever has been discussed prior.

Could offer an opportunity to buy more at $1.70 if the market gets the jitters. Could also open up at $2.50 if its a solid response. They have a globally scale-able business model. Yeah, its a simple business model, but so is selling coffee and take a look at how successful Starbucks has been!