Ann: Half Yearly Report and Accounts, page-2

I would highly recommend taking a look at the HY especially those who believe in TSI.

Pages 5-6 will give you a decent summary of DWX, C10 & TSI.

For the Sept Qtr TSI had underlying EBITDA of $3.2m on revenue of $12.3m.

It's well worth a read and should prompt some decent discussions prior to people considering the share buy back offer.

VOR's net assets are valued at $18.5m which includes the TSI valuation still at $5.5m from earlier in the year.