NSW Goverment Sailpoint software licence, page-10

Valuation is how a long is a piece of string methodology. Not supporting TNT or downplaying potential here, but it is as obvious as dogs' proverbials, that TNT gets a higher multiple as it is a growth story. It has been along time between drinks for us acquisition wise etc.

I think we all know the price drivers and that will come from big contracts, acquisition on good terms and resolution of TSI. All three at once would be great.

Cheers