Ann: Preliminary Final Report, page-2

Well.

Somewhat relieved as I had interpretted the late Friday night announcment to be an ominous sign.

Hit the target admittedly at the lower end and caused by a drop in international sales in q4 but I hope that this means we will see a pick up in the first half as any orders received in q4 start being billed this FY.

On first glance I didn't understand the accounting treatment for the write-down. They paid circa $2m yet were allowed to claim a circa $4m deduction. So I assume that they booked the full value of the expected purchase onto the BS when they paid the first tranche. Need to review the previous BS items. Good from a tax perspective I suppose but not pretty from a headline point of view.

They did get the @$400k for the 5% sell-off of 3/4 wheel venture so that is apparently still viable and no writedowns there.

Won't be around for the tele-conference. In transit. If anyone is tuning in and you get a chance / are inclined, could you ask a couple of these?

Questions:
1. How are International (and Chinese donmestic) looking for FY16.
2. What was the accounting treatment that allowed a $4m writedown for a $2m purchase?
3. What's going on with 3/4 wheel venture?
4. When is a new chairmann going to be appointed?
5. What's been overhauled / changed to prevent another Haiyong form happening again?
6. When do we get a dividend?
7. Forecasts for FY16.

Good luck all and cheers