Ann: CEO's Address to AGM, page-4

'Also with the cost outs, and reduction in R and D spend - I thought CC profits should be up about 20%.'

Currently there would be additional costs for legal advice. Add in external consultancies for the HR surveys, and no doubt other initiatives from the new CEO and costs would be somewhat above the 'norm'.

With so much change occuring it is pleasing that even with sales revenue showing a small reduction, profit was able to be maintained and slightly increased.

Happy - not really. But a lot better than it could have been.

FDA for HCC. Pleasing to see that this is progressing, and I'm confident that the time line is very conservative. I'd expect to see something around 1st 1/4 next CY. What was not addressed it what happens to the HDE that BTG have when and if SIRT get a PMA.

My understanding of an HDE is that it is applicable in the absence of a PMA approved product. Does that mean that BTG will no longer be able to market in the US?