Ann: Trading Halt, page-13

OK. So some queries:

-Are shareholders required to vote on such a transaction? And, if yes, is there any chance it would get knocked back?

-What's a fair value for the retail assets? Presumably a function of monthly active users, unique IP, unique deals, and debts/assets. $5-10M?


-IF the sale goes through what is left of TBH - is it just GT, does it hold licenses or does it merely licence software and its clients have to hold regulated trading licenses? This is critical as the blocker on revenues with NEDS/LADBROKES is clearly regulatory.

-IF it's just left with GT does it cut deals for the use of its own platform OR does the new owner of the TBH retail arm also dictate its sales/licenses on behalf of GT?

-What are the current and forecasted revenue flows for GT?

-How do we value the business if it's now to be solely a software platform development house?

A lot of big questions. If we want to try and determine a fair SP value upon conclusion of the trading halt I think we should have a go at working out how to value either:

a) a shell of a company that is doing a last ditch effort to find cash to live the dream of GT, or
b) a seriously refined and ready to win GT-focussed business.