Ann: Appointment of CEO, page-4

This is huge ... shows 2 main things to me:

1. We are looking to expand in to Asia & Australia ... hence why we needed someone with experience
".....within the Australian and Asian markets and sectors of banking, telecoms and digital technology". Interestingly, Novatti have a strong presence in Asia (especially Malaysia I recall) and also Australia (with we chat in particular) so looks like the benefits that should flow from the MOU could be far bigger than we previously realised. This PB quotet was also very clear " We are keen to develop opportunities in the banking and e-payments technology sector across Australia and Asia"!

2. The TSI 100% deal must be on otherwise we would not appoint a new CEO with a 200k package and equity options .... this guy would be able to get more than 200k package so he must see the equity options as very valuable IMO. Further, when you read what PB said "..... He is well credentialed to lead the expansion strategy of TSN by finding new technologies to implement in India and across Australia and Asia." .... India get s a specific mention several times but this is crystal clear that we are going ahead with the acquisition soon IMO.

What I also like about the guy is he was also MD of Polaris (fund managers) ... thus he should know the importance of communicating with the market

Game one

MartyW