RADI, page-7

Assumming the RADI is approved they have 2yrs to apply for the full ADI which will cost approx ~7m based on figures mentioned. It might be less for those going through the RADI then ADI step as some of the costs may already be absorbed through the RADI application. The good thing about Novatti is you are looking at 170m shares on the registry (quite low) so a future CR say at 30c (assumed new baseline once RADI is approved) for 50m shares would raise 15m directly for ADI and provide additional working capital for costs associated with growing the Novatti banking sector into a very profitable arm for the group.