Ann: Acquisition Announcement, page-5

A hidden gem, indeed.

I was anticipating a breach of ATHs when I first read the announcement before market open (the low volume is also strange). Would not be surpirsed to see this run next week, once the market has had a chance to absorb its significance.

It’s especially pleasing that Scott Frenchhas returned to his old stomping ground to purchase Zetron. Whilst there isalways risk in integrating acquisitions, this appears to have all the hallmarksof success.

Companies often abuse the term ‘strategic’when making an acquisition for no other reason than ‘buying growth’. In Codan’scase, Zetron and Domo are the epitome of strategic acquisitions. Gives me further confidence that the next few years - at least - will be extremely rewarding for holders.

Make a note in your diaries now, at some pointin the next 18 months Codan will make a price sensitive announcement that theyhave secured a material contract from the US Government’s NG911 fundingpackage.

As an investor, there's nothing better than watching a company executing the growth plan to perfection.