Great news. Existing NAB facility is I think only US$3.3million,...

Great news. Existing NAB facility is I think only US$3.3million, this removes any need for further equity raisings as by the time they have spent this the Traffic business will have sufficient free cash flow from existing installations to cover all new approaches being installed. Then it is dividend time or pay back the Harris Bank time.

Interest rate around 3% all up, unbelievable. It will probably take a little while for the implications of this to sink in, not just the kudos of having a major US trading bank (40th largest in the US) backing a foreign minnow like RTS but also in the area of sales. Backing of the Harris Bank in a big way must help tremendously with their sales effort, they now have the capacity to handle any size contract plus have more than enough cash available to install their complete backlog.

Party time for shareholders thanks to, once again, the tremendous efforts of the Redflex executives, particularly Bruce Higgins who would have been driving this.