Ann: 10 Year User Pricing with Significant Uplift in DPS Guidance, page-13

yes there are some that have been waiting to offload. This listing hasn't done very well. Also there is debt behind the scenes.

But all of that is irrelevant to those that are prepared to look at the value of the underlying business.

This announcement has significantly reduced underlying business risk. It means that even with interest rate risk, the underlying business can absorb interest rate risk through the higher fee structure. This is the important, critical factor in my opinion.

So for me, a major risk has been reduced. Hence my interest, hence my increased position.

I cannot justify other peoples reasoning. I focus on myself: return on capital and return of capital.

Simple equation, and the reality is that risk of return on capital has decreased, whilst return on capital opportunity has increased.

In a rising interest rate environment, this stock is not going to shoot the lights out, there is no yolo moment. But there is an increased probability of seeing a reasonable return on the capital invested. Given the share price against the underlying business value is reasonable that return on capital invested matches both the underlying capital on the underlying business and the share price. ie we are in equilibrium for both the share price and the underlying value of the business per share.

Hope this makes sense, very very few people grasp this concept.