Ann: Market Update , page-2

Great news for getting value of of this co.
Currently too much debt, but a good business.

Obvious target is Hills whohave a stated strategy of acquisition into electronic areas (and note the key/locksmith segment now is targetting electronic keying....just the words Hills want to hear). MD STokes is ex Hills in the same business.

Other candidate is Helmsman who also have a security business.

Will be interesting Board meetings re who is independent and who has conflict.

My pick is Helmsman Security business and QTg will both go to Hills.