Support Levels, page-898

Macequity trying to clear the turbulence
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Structural Monitoring Systems Update and Research Note

• We have spent considerable time sifting through wordy company announcements to understand the intricacies of the regulatory environment in which SMN is operating
• Our Research Note articulates our understanding of the regulatory process, and provides seven recommendations to get SMN back on the right flight path
• SMN's recent approval from the Agencia Nacional de Aviacao Civil is very, very important and misunderstood by shareholders
• Please take the time to read our Research Note carefully in order to understand SMN's current position and the path forward to increased shareholder value
• Since September 2016, SMN has lost over $130m in market capitalisation leading to shareholder distrust of management and the Board as a result of Director selling, poor governance and undelivered promised contracts
• We believe that in order to improve shareholder value and win back both the market and shareholders the governance of SMN must improve

https://gallery.mailchimp.com/dd8b7...3-4ba8-83e0-d1c21c2d02cb/SMN_APRIL_2017_2.pdf