Ann: Change of Director's Interest Notice, page-14

The sentiment will change if TNT can deliver the narrative they are pitching. Growth (organic), sustainable, increasing EBITDA margins, reduction in costs or some sort of scale, revenue growth that reflects capturing of the tailwind of growth in the industry (the theme you are calling out). Until then, the valuation won’t move and it may even go down given the macro events and sector out of love. If you’re not patient; don’t invest this end of the market. I mean no disrespect to you and welcome all contributions. Heck if you’re looking to trade the stock perhaps you can make some quick bucks.