Ann: Management Share Scheme Strategic Review, page-30

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So now we have no liabilities except for trade payables and no ongoing contingent liability for the C10 purchase. If all went to plan last qtr, we should have circular $1.5-$2m in the bank and 2 profitable businesses and the shadow of TSI.

Now, the potential conflict with C10 shoring up its profitability (due to the earn out), which may cause some friction, is removed. This should in theory add to the synergy and cooperation across the group, if the new reward structure focuses on the VOR SP, rather than "brand" specific rewards.

Often people sell into a group to reap rewards greater than they can achieve as a stand alone. Changing from a "brand" to group reward theme should encourage this, as there is no real value in selling your business to run the same business (only if you want to monetise your holding). So, basically it is set, let's get on and make it happen. Proof is in the pudding. I maintain my skepticism based on the past, but hope for the best.

Cheers