Ann: Quarterly Activity Report & Appendix 4C, page-196

I don't believe WD has any rights ACCEPT.

Guaranteed right to license on a discounted basis, so they can't be locked out of the tech if a third party buy us. Potentially then WD paying fees to the third party ,who would then hold the patents.

WD has right to be bid advised, so potentially could counter offer any third party bid, and / or negotiate the license prior to a sale.

Our patents are all exclusively ours, however WD is the only player that could go for exclusivity. All others will have to share the tech with WD, which reduces what a third party would be prepared to bid presumably.

However, the third parties, will want to make sure WD is paying top dollar, and not getting exclusivity.

Why this is going to be a very complex negotiation, to ensure WD doesn't get us cheap.

If WD gets us exclusive or cheap, I want WD script offered in the deal (no CGT event)