Ann: Notice of EGM, Independent Expert's Report and Proxy Form-SHP.AX, page-6

Still following with interest.


A long way to go still I think, bigger board, increase if the non-executive remuneration cap to $500k seems a lot to me given all the LTIP shares issued as well. Appreciate that they aren't using all that money now, but seems like lots of things being done now, whilst a big deal is on that could arguably be left till later.

Paying out the earnouts for WarCom and eStore will remove a liability but frustrating to have to keep paying for eStore which imo was a bad acquisition for the company from day dot .. years later giving them almost another $200k worth of shares.

Ultimately I think this is an interesting tale of the difference between listed companies successes and individual entrepreneurial success.

There is no doubt the online retail and wholesaler space is still changing fast and scale will be needed to succeed. On the surface this sounds sensible, the same was said though in the previous SHP incarnation and so far delivered none of the promised economies of scale etc.

My biggest concern is that Anyware purchase Harris in much the same sort of way that Shoply bought eStore, a shell of its former self in the hope it could be turned around. They are forecasting month on month revenue growth in HT which is ambitious and if it doesn't come through will be messy.

Hopefully the new management involvement from Anyware with more skin in the game will have a better success turning things around

Will be fascinating to see how this all pans out in time.