Ann: Share Purchase Plan Offer Booklet, page-16

CAT is a very interesting Co. - I like them. I have been watching for a few months and think they're doing very well and have an exciting future (if they continue to execute well). The whole idea of integrating technology into sports is very logical - a team always wants an edge over the opposition right? For me, I consider sport as some kind of publicly-acceptable warfare. And often he/she who has the best toys, has the better team/performance and so wins. CAT's products seem to offer this.

The idea of making additional acquisitions is good, if they grow the company (now CAT would have new and I assume valid products, that they can cross-sell to teams they already gave a relationship with. Scale is probably everything here - there would be all kinds of promising Start-ups that have some nifty gadget, but can't get their foot in the door). The idea of having more money (the capital raise) to support the Co. during its young growth phase, is probably also necessary (I haven't looked in detail at CAT's financials, to see how quick they'd go broke without it. So I hope I'm not going off half-cocked, with my below comment - but I want to throw this out there for consideration).

Having said all that, I would caution investors about participating in the CAT capital raise. My observation/experience is that capital raises are usually done at a time where the shareprice is relatively high and could go lower. The shareprice was obviously double @ ~$4 a little while ago - if Management were right on their game, they would have called it then. But it's very easy to say something like this in hindsight right? And it happens with all Co's who do capital raises, so CAT is certainly no exception there and people shouldn't be too critical of them. It's logical to think that Management calling the CR @ $2, means they think the SP could well go lower and they're going to need more $ relatively soon, so may as well call it now whilst they're able. Better to raise money at $2/share, than at $1.50/share - less dilution for existing shareholders.

Buying at $2 may well be a great investment decision in a few years time, if the SP is much higher - but I would think that you'd be able to buy-in lower, with a young, hyped, growth Co. like CAT. At some point market sentiment will change, the SP will drop and everyone will grumble about "how bad CAT is". If you like CAT, that's when you should buy. Frankly, that's the point I'm waiting for, to consider going long - but there is always the risk of missing the boat entirely, by sitting on the sidelines. I have participated in many CR's with different Co's when I was younger - they were all young, hyped and promising. Some did go up from the CR price - most didn't though and I think almost all of them had successful (fully subscribed) institutional and retail CRs.

I'm not trying to sway people from investing in CAT - just saying there may well be a lower share price, if you want to get aboard. Of course it may go to the moon tomorrow and then you'd say "that Asparagii is a clown"