Ann: Notice of General Meeting/Proxy Form, page-94

We will see on Monday morning if the market is OK with this latest move by JAT management?

As I have previously stated, IMO the JAT directors issuing themselves a stack of effectively free shares will affect the share price negatively - and obviously we need the share price as high as possible to entice the option holders to convert over the next few months.

If the SP is under the option strike price, then clearly the option holders will not covert (and therefore JAT does not get the funds it needs for the factory, increased stock levels, increased marketing etc).

Also, it is not just the extra $16m shares that will get issued - this company has previously lost the trust of the market (which has contributed to the current low market cap & SP).

I felt that Wilton was starting to gain some trust back over the past few months, particularly with the latest 70% factory purchase - but this announcement about these $16m shares going to management with no profit performance hurdles is a setback IMO.

Be interesting to see what the market thinks next week.

Have a great weekend everyone.