Ann: Appendix 4C - quarterly, page-30

Good summary Dreamcatcher

I think those who are not really long term holders would know what this board forecasts this board delivers.

I think what the not so familiar holders or market watchers are missing , is that we are now almost certain the full year results for 2014/2015 are going to be very good , as the first 3 quarterlies have given us the clues

I also think PGC are more than likely to keep up the strategy of acquisition for at least another 3-4 years , where they buy a business on 3-4 times earrings, integrate it in to the current sales , get synergies and go again

I expect we will see 2 more in 2015/16 , and the revenue will be far more than the 50m forecast

This forecast comes from the chairmans strategy outlined at the AGM in 2013 , we have not had the uplift from this number or strategy , but you would have to think PGC is ahead of this target number .

Chairman Tanner , stated very openly PGC had a target to reach 50 million revenue at a 15% EBIT margin by year end 2016

With a market cap of $34 million , and now only 12 months out , that result would make the stock trade over $1.00 , which for the risk of delivery about 50% under what it is trading at now

In my pinion that is seriously under priced and discounting the likelihood of that outcome eventuating.