Ann: Appointment of CEO, page-9

To be honest this has me in two minds. Firstly, I still am a firm believer that they will do all they can to acquire 100% of TSI.

The appointment of Mr Lai for an initial 3 month period from 20 March seems to coincide roughly we about the 90 days they will have left on the Novatti MOU. Given Mr Lai's banking experience and especially his strategic position at Accenture, I feel he is there to progress the digital agreement exclusive to TSN.

Be good if it was the whole box and dice, but I feel they needed a digital man for what they are trying to do with Novatti and this was the reason for the appointment. Naturally it is real good fit for the business as a whole on a 100% acquisition of TSI, but I don't feel his appointment is contingent on this.

Cheers