Ann: Clarification of market announcement, page-20

I have not invested in this stock as I am not a trader and if I was to invest I would like more info if I am to buy in long term.

I must admit that at this price and based on the information available you would have to believe in more upside potential then downside.

There was a number of about $10m for ongoing commissions being earned last year of about $10m. This probably means the annual run rate is closer to $12m after allowing for growth over year and free first year etc. I would have thought just based on normal industry valuations that this was worth $36m in a sale. Even assuming the cash was used for an orderly transition to a new business entity to run this with no benefit to existing shareholders for existing shareholders and no value in the insurance side, this would still see a 70% gain on the value today. That is a very conservative view.