Ann: Application for quotation of securities - IHL, page-23

I think any time insiders buy-in with their own money, it is a show of confidence as they understand the business and its potential better than anyone.

In this case, I believe they are also locked out from selling these shares for 180 days, which in my opinion is even more comforting.

Yes, they secured these shares at a discount, but in the case of our board, I think they more than deserve it. They have built the foundation for the company and should be rewarded for their early commitment.

Maybe they will sell some of their holdings on market at some stage, or maybe their share will be bought out (along with many of ours) when/if we are taken over.

I'm excited to see where they take us.