Ann: Half Year Results Announcement, page-11

I tend to think differently on this. Cap raises imo are extremely positive at high prices which NXT did achieve in the past. Free money to grow the business with a somewhat small dilution to SHs if you did not participate in. Borrowing incurs interest which isn’t cheap atm, so cap raise , to me is a better option. With regards to the result, after looking at the report more closely (as I always do several times), i have always looked at sold MWs (as in, customers have committed to paying us once we have built enough space for them and have moved equipment in). This grew by 18%. Not bad at all. Another point is capex for the period. NXT spent over a billion. That is a positive imo as they are trying to build/fit out existing or new sites as quickly as possible. Sometimes people see a massive overspend on capex and see it as a negative. If you have already sold capacity to customers, spending more on capex is exactly what I want to see. Build it quicker, move them in quicker, start billing quicker. I’d bet my life CS and team are 10 steps ahead of what investors think should be happening. I trust the line they are taking. Continue to hold should have (but didn’t) add this morning. Gltah