TRF raising is just prudent management. I'd rather they raise...

TRF raising is just prudent management. I'd rather they raise and continue to develop rather than doing nothing other than pay salaries.

TRF has only been raising small parcels to remain solvent and productive. TRF will become far more powerful once IFE starts shipping and provides a financial feed to it. Its only a small raising and applicable to shareholders on 10:1 basis, so not overly dilutive.

For IFE just some more waiting now whilst we get sign off and then the financing. Seems like a formality now, just time (yes again!).

Thank goodness that the boat is sold and the research and dev grant game back, which has ensured IFE hasnt had to do a cap raising.