Ann: Technology Presentation to shareholders, page-3

Looking over the releases this morning for the AGM, a few points.

- Most importantly they did not step away from the $200m revenue by 2020 goal. Let's be honest though 2020 is a while away so even if it was at risk today isn't when they'd need to say so.
- That said, that goal implies strong y-o-y growth so it implies FY17 stays on trend. They said as much with their >10% growth target. This is very important. The market is highly demanding of growth stories at the moment.
- Despite this, they didn't give a huge amount of detail around guidance which again I think the market would've really liked.

Overall I think the market will take this with a grain of salt. I see absolutely no reason why a sell off should occur - I bet there are shorters weighing up whether to take on ALU after seeing the profits made in ACX and maybe even ISD (a growth story who disappointed greatly with their outlook).

In my view the announcements are neutral - no change to the outlook but didn't give any additional comfort. I think we might see some pressure as that is how the market is performing at the minute but that the outlook remains unchanged and that weakness should be met with reasonable support.

all my opinion...dyor.