Ann: Application for quotation of securities - 4DS, page-16

I'm also a LTH and while the risk is here the fact is that the 3PL is what the 2PL should have been.

The only difference is that imec has at last identified the issue that rendered the 1st and 2nd PLs non-operable. August 2022 is the new August 2021. Except for the issues with the PL and the potential degradation of endurance, all the metrics and development have hitherto been positive. That isn't insignificant. The company has already overcome serious technical hurdles throughout its life.

The directors aren't buying but neither are they selling much; DMC sold half but still has 7 million left. The Dr is not making money on this without success. The others do get paid a lot, but ultimately they have a lot coming their way through the sales pool which remains in force.

In conclusion, I believe that imec wouldn't be wasting their time if they weren't confident and neither would the Dr or the rest of them. This isn't the portrait of a failing company.