Ann: Company update and 2024 imec contract extension, page-90

All-in-all a positive announcement. Sure I would have liked there to be a sale and have cash in the bank instead of more uncertainty and risk for another 12 months, but if successful at 20nm with some further optimisation it should add significant value.

My view was this could have gone either way, knowing that further development was always needed. Either take it further ourselves OR a big player with a huge R&D budget like Samsung take what we have and take the next steps themselves. That way they could have bought it for less. We take a lesser amount for a 'proven concept' with the benefit of relinquishing further risk.

The BoD consider this new strategic plan to be in the best interests of shareholders. We will never know if we received any offers to buy our IP. It could be that the BoD feel the chances of success are good and the benefit of doing this ourselves is a better option despite any risks. We have to trust their judgement based on their assessment of risk v reward for shareholders.

One of the best parts of the announcement is the hiring of a 'Strategic Advisor' who is amongst other things skilled in "PROMOTING AND EVANGELIZING' for business opportunities. In other words, Peter will be out there spreading the word and getting us noticed. I would hope that in time, this will have some positive impact on the share price. The lack of PR is one area that has been frustrating the hell out of me. Perhaps things will start to improve.

In one way I was hoping for at least a little delay with a sale for CGT reasons. If we are successful with PL5 & 6 the CGT discount is going to be mega...

Should still be an interesting AGM tomorrow, there are still many questions that need answering and hopefully a demonstration of shareholder frustration regarding the appalling communication from the company to shareholders. That is truely unacceptable.