You are correct in saying that there will be shareholders that...

You are correct in saying that there will be shareholders that will continue to sell.

I would argue that the negative share price evolution that has occurred has been caused by a relatively small number of shares that have been sold.

Our company is in a fortunate position that a large base of our shares are held by shareholders that are looking for a large payout and probably sold very little RAC shares over the last 24 months (less than 300 shareholders control 60-70% of our company which has been relatively stable for the last 24 months by my estimation).

If we as shareholders can stand together we will be able absorb the shares that caused the negative price evolution during this downturn and see a much stronger share price - The aim is for as many shareholders to increase their RAC position by 2% until we see share appreciation/ price momentum that will bring additional demand.

Our team is working on the pivot points that you have referred to. We need to make sure that we have the funding to execute the plan that has been laid out i.e exercise our options before expiry. Complimentary to this will be positive share movement that will hopefully bring new shareholders to our share registry and less dilution when additional funding is required 24 months from now (or earlier if there is a compelling case).

In my opinion there is significant upside for all of us (including the shareholders with the an average price of AUD 3.00 - my average is approximately AUD 1.54 from memory).