Ann: Appendix 3Y-Howard Digby, page-64

Flec good points.

I am a little perplexed at how much value a strategic advisor offers the company. Hearing from those who attended the AGM, I thought the BOD made it very clear what the strategy was?

Produce functional 20nm chip with help of red-carpet treatment from IMEC. Once proven, IMEC then takes us by the hand, walks us down the hallway and introduces us to the top 4 household semi-conductor names, supposedly to get the auction underway.

I understand eventual negotiations, due diligence etc will be convoluted and complex, however this is not the role description of PH as far as I can tell. He is to advise strategically.

Was this not what IMEC were doing for us?