Ann: Expiry of Convertible Notes, page-57

The share price is now at a point where this business looks cheap based on current earnings, ignoring any future growth prospects - let alone earnings growth in such a growing market (cloud and cyber security).

What are we now, PE of <10? Crazy.

No only is VOR not being priced for any growth, it's being priced as a declining business.

Is the market confusing VOR's earnings with revenue?! Management need to make it clear of our current contracts, durations and growth prospects.

Quite the ride for me, SP is nearly back down to my average after seeing it up near 100%... happy to hold through to next reporting season as the numbers will do the talking. At this rate I'd lean towards a TNT scrip offer...