Ann: Becoming a substantial holder from SNC, page-39

OK, it gets very confusing with the Wilson name and who is who. Prefer if it was Geoff Wilson personally. The other one might have been around for quite some time but has a muddy and less than stellar background over the years with Pinnacle, Craig's and its own WIG performance. Anyway we wait and see. Maybe **riel will somehow manage to drive value back in to this thing then without substantial dilution and decimation for current minority holders.

Still not keen on 1AG, want to see some general cleaning up, removal of insular self interested and related party transactions, a refresh of its governance, a fresh decent value proposition coupled with a value driving strategy and an executable plan before I change my view. In the absence of any of this it remains a punt at best I reckon.