Ann: Tesserent extends Debt Facility, page-21

Absolutely, 100%. I've said a few times recently that while I've always been happy with the long term view, my main concern, small as it is, is dilution if our share price is too low at the time of acquisitions being negotiated. The more we use money rather than newly issued shares, the less significant this issue is. The acquisitions were always beneficial anyway, but this makes them even more favourable, especially as you say, with interest rates making cash cheap at this time.

I never agreed, but some holders here have expressed concerns about acquisitions, even saying they don't want to see more. While I think that was always strange backwards thinking, obviously some shareholders do think that was and this news should allay the fears of that percentage of the market. However you see it, this is great news.

It's also nice to just have a little reminder to the market that we have multiple acquisitions in the pipeline which will soon be announced. I'm sure the market was getting impatient and some folks probably even sceptical or concerned things had fallen through.