Ann: Shareholder Update, page-6

Well, what do you know... turns out the company can make an acquisition without shareholder approval. If that happens, do you really believe Tranche 2 will be fully returned to shareholders? Or is it more likely the bulk gets funneled into ‘smaller-scale acquisitions’ where any potential upside won’t be reflected in the share price for years, if ever?

The writing is on the wall. It’s hard to argue this approach serves shareholders’ best interests as it looks far more like an effort to entrench management and keep the gravy train running.

At least now we know how to vote — AND with full conviction.