Ann: Half Yearly Report and Accounts, page-46

2 cents? That's only the beginning.

A year ago we were 3.5 cents with no DWX. DWX is a MASSIVE get for us and Jeff is adding value quicker than I can keep up.

Further, TSI has now overcome one of the biggest disruptions you could imagine and are growing their ATM base. India are decades behind us regarding infrastructure. It is a 3rd world country with millions of citizens without bank accounts. We have a strong foothold in this gigantic market. The potential here is mind boggling.

Most investors entered TSN because of their exposure to India's emerging markets. When things didn't pan out then panic ensued. There's a few bitter holders and ex holders out there trying to defame the business - but the smart money is in and holding.

So if we step back and look at things objectively. We can see that in the past year we have added significant value to our portfolio, remained patient and responsible regarding the TSI buy back, improved communication to shareholders, acquired a gem of a cyber security business with opportunities to cross promote with TSI, we have NOV agreement and huge potential to cross promote once more. I mean, if you took the SP out of the equation for arguments sake, this past year has been transformational for TSN.

I have always believed that if a company is irresponsible to share holders and their business is faltering - then sell out and take the hit. I have done so this year with one or two. However, my strategy with TSN has been very different. Discussions with Jeff throughout the year kept me optimistic and informed. I have been buying all year and my confidence in the company has never been higher.

As always, DYOR, but to those with thoughts similar to mine, relax and enjoy the measured rerate we have been waiting for.

Toddski