Ann: Half Year Investor Presentation, page-13

Hi Mickem

If they had already agreed payment terms of a year (for this and other projects?) the need for the cash raising is obvious, yet it was not mentioned at the time of the cash raising. I wonder when these terms were agreed.

We may get projects up and running and the revenue next year, but even in the second half of 2020 we would have little revenue even under the previous payment terms given projects have yet to restart.

The need to diversify outside China is obvious and urgent, but to date we have only had small beer. Hopefully the new MD can succeed where we have failed previously.