Ann: Exclusive Option Agreement to Acquire Balance of TSi India-TSN.AX, page-101

To some degree, I can understand what is happening here. Shareholders have basically been informed that our 25% is worth approx. $16m, yet our market cap is $47m, so some of the uninformed are selling. The informed realize that TSN could have minimum revenue of $55m for this financial year, just from the ATM's, without upside from future deals. When the financials are finally released to the market we will see the rerate this deserves. Great buying opportunity here.