Ann: Investor Presentation - Diggers and Dealers, page-153

ratty - the company owes shareholders more than just an annual report and a set of audited financial statement in my view. What they should do is hold a strategy event which not only identifies the opportunities the new Red5 has created but also its weaknesses and threats and what the company is doing to address those weaknesses and threats and to take advantage of those opportunities. It should be a watershed event for the new company.

Arcadium, which is also the result of a merger, theirs consummated at the end of last year, is having something akin to a strategy day - which is a good thing - in September - which is nine months after the merger, which means its a joke. You can see how this prolonged lack of clarity by the Arcadium leadership team has resulted in Arcadium's shares badly underperforming the shares of its peers. The market simply does not know if Arcadium is Arthur or Martha, whether its coming or going, and as a consequence it is punishing Arcadium's share price. I think it is pretty obvious the market is in a similar quandary regarding the new Red5.

So, yes, I think you are dead right that the market demands a clear picture or description of the new Red5 (and not in a half-arsed way as they did at Diggers).