Ann: Notice of Annual General Meeting/Proxy Form, page-47

My main concern is that VOR has lost first mover advantage. There are always exceptions to the rule but generally speaking, there are advantages that come with increased scale - operating efficiencies, improved access to capital, enhanced talent (employee) and client acquisition and retention, etc.

Being small and nimble can have its advantages too, but I’d rather be pitching for work against another small player than a bigger, meaner organisation with deeper pockets, more bench strength etc