Ann: Investor Presentation, page-142

100% agree with growth over dilution.. A smaller piece of a bigger pie is always better than a bigger piece of a smaller pie.

My view on our present SP and business growth is a little different to yours. I believe the company has grown much faster than the market realises, hence the lagging of the SP. Lagging is mostly illustrated when news fails to push the SP which has been seen a number of times but also shown by the differential between the SP and holders perception of where the SP should be.

The announcement of a debt warehouse will raise awareness and I believe the market will react. Just how significant the reaction is only time will tell. My view is the reaction will take up at least some of perceived lag and maybe more.

I might add I'm continually impressed by the drive Adrian and his team have to push CRO forward.

Whether we realise it or not CRO are kicking goals everyday. Just look at what they have achieved since July 1.