Ann: IFN Target's Statement in response to UAC offer, page-2

So i have just skimmed through the 80 page document.....mainly corporate waffle with cookie cutter sub sections that sort of tell you stuff, but it doesn’t tell you the paramount piece of information....what do the directors (and an independent valuation) think the company is actually worth.....references to VWAP in the middle of Covid and ASX meltdown as justification for a bid price are somewhere between irrelevant and embarrassing. Clearly 2 external parties who bid 80c and 86c think the company is worth more...so surely our highly paid directors who we pay should be looking after our interests by providing their view on valuation.

I accept there is potentially further to play out, but do feel the directors on our behalf have placed our house “on the market” at a reserve price (86c) which seems disappointingly low in the absence of more concrete independent valuation endorsed by our directors.