Ann: Net Tangible Assets as at 31 May 2023, page-2

COG has represented 12% of the portfolio for some time now. I notice that there is no comment about further actions or expected catalysts in relation to this holding. The last update in March stated that COG had acquired Paywise a salary packaging company and had formed a relationship with EML an insurance management business both of which complemented the services provided by COG. Maybe G. Radzyminski could advise holders what is happening with this top holding. Is integration still in process and is the expected bottomline value playing out and are we holding because there are expectations of further expansion or are we waiting for the SP to increase and match the potential. For such a large holding I thought we might see some comment.