Ann: Appointment of Non-Executive Director, page-7

Hard to know which thread to comment in, but seeing this is more to do with todays announcement I'll comment here.

Have been reading many of the posts last few days and I concur with many here including Rambleon and 2105 including the disappointment on the handling of the placement and these new Investors having access to the iTech shares seeing they are only just coming onboard and at a heavily discounted price ! Like everyone else here am not privy to the negotiations surrounding the placement so it is hard to comment further on it only to say I feel the disappointment also!

I won't dwell on it too much as it achieves nothing positive and in the current climate in the middle of a pandemic, risk of regional and market instability and the whole supply chain issues across the board focusing on any positives becomes far more important.

The last few weeks of negative sentiment against Tech Stocks and the announcement of the $1.45 placement and SPP certainly hasn't helped the Share Price. There is a mix of Traders and Investors in Archers and this will obviously affect one more than the other.

I thought todays announcement was a big positive to have Bernadette Harkin come on board effective immediately!

Within todays announcement ....

"Bernadette’s international experience in directing global technology organizations and client-facing leadership roles in the US, Europe and Asia, will be valuable as the Company considers opportunities to pursue development operations for its technologies, including the 12CQ chip, in the US.

I'd like to think there is something happening in the background and the fast $15 million placement and Bernadette's immediate onboarding is part of a bigger picture unfolding. Bernadette is the Australian COO at Avanade which is a Global Company and a joint Venture between Accenture and Microsoft and she certainly has a wealth of experience from my quick research and it is great to have her onboard!

$ 5 million in the Kitty and another $15 Million coming in .. $20 Million plus what ever they get from the SPP. What ever way you want to look at it, the company will have at a minimum $20 million in the bank and is considering opportunities in the USA now 12cq has patent protection.

I feel the SPP to current Holders is a gesture seeing they did the $ 15 Million placement and at such a low price point.

Nothing has changed with the company's strategy and the bank balance is now already stronger - just disappointing having the low Placement value but was it to guarantee getting the cash quickly for expanding or accelerating operations outside of Australia ? Who knows ? Time will tell as always.

Clearly disappointing the SP being at this level but for how long ?
All the best in what ever you decide is the right course of action for yourself.

Cheers
Tonza