Ann: Votiro business sold for cash and shares in Menlo Security, page-7

You're right—the shares will remain within the Senetas group. The venture capital investors will eventually seek their payday, and when they do, we should see our share as well.

Hopefully, this doesn't take as long to play out as Eon Reality.

When Senetas receives its 45% base cash consideration, a capital return would be expected. With the group being profitable and no longer needing to fund Votiro, it should be in a strong position to deliver a return to shareholders.

We could also see another solid capital return 12 months after the transaction settles, provided key customers remain with Votiro. There’s also potential for additional payments, depending on certain undisclosed conditions being met.

Our cost base for Senetas will continue to decrease as capital is returned, improving our earnings per share from the core business. Additionally, with strategic investments still in place, there’s potential for a nice payday down the line.