Ann: XIP announces FY 17 results, page-12

Met the new CEO Craig Dower 1:1 a week ago at a broker briefing. I wanted to check on his views re systems integration and change management. My opinion is the upside in this stock comes from well done acquisition integration. Lawyers are huge doc management, email, knowledge base, Workflow and billing systems users. Lawyers are generally systems illiterate in my experience, so how IT works either motivates or demotivates them. Demotivated lawyers go elsewhere, motivated ones stay. So if integration goes well in the next 6 months it's off to the races for this stock in my opinion. Craig has got a strong IT background dating back to his EDS days. He was engaged re change management being the key which I liked. He also mentioned that he's going to inject some new talent in the integration/IT systems area which tells me that (a) he knows where to invest and (b) he's already engaged and looking to make things happen. I thought he was a good choice and bought in at 1.84. There's considerable value at these prices if the acquisition integrations work. I'm not worried about insiders dumping stock as at these prices they are below were they want to be. That may be an issue, for me, around the 2.20 - 2.30 range.