Ann: Chair's Address to Shareholders, page-2

Not a lot of good news here.

Disappointing that there have been no follow up US orders, and also disappointing that last year’s order from a local major barrier rental company isn’t being repeated.

I’m pleased they are raising capital. It doesn’t sound like a large dilution, and is surely needed to secure us financially, with a large WorkSafe fine looming.

I like the concept of selling off other parts of the business to help Road Safety Rentals grow. We are going to live or die via Road Safety Rentals. Let’s not die wondering about it. With three branches now up and running and apparently “hungry” for additional fleet, that area of the business looks promising, particularly given federal road funding commitments.

Suspect that with revenue well down in 23/24 so far, we are likely headed for a small loss this year.

Management is certainly trying to reset the business. Perhaps we can do better once 24/25 is upon us.

One encouraging note is the Chairman’s firm assertion that NTA comes in at 22 cents per share. Maybe we should give up and just dispose of it all! (just kidding!).

I retain my confidence in this Chairman and the CEO to produce better results in the future. They seem across the challenges, are switched on and are at least trying to make things happen.

Finally, bravo to the CBA for standing by the company. We always hear bad things about the banks, and of course, when they do act in a community minded and supportive way, it goes entirely unreported. And no, I don’t hold CBA!