Ann: Chairman's and CEO's Address, page-14

Ok...I was speaking to another CDA shareholder and he suggested I try and be more positive and suggest something that management can or should to...besides a stock buy-back which is painfully not only the obvious thing to do but, the right thing.

There are over 1700 ASX stocks. I cover 1300 in my research.
Of those about 500 are showing a profit or actually making money.
About 100 are actually growing at a solid clip and have a sound balance sheet.
Codan is one of those stocks.

Yet, Codan is one of the worst performers of that bunch. The market needs to know the Codan story.

If Codan's Board and management don't know what capital management is or are to scared of it...then how about this?..

Go out and tell the market.
Back in another life I indirectly worked at a brokerage firm. We always had companies come to us in person. CEO/CFO's. Tell and show in detail what was going on and why we should invest or tell clients to invest. You can look at a 1000 annual reports or read research reports or power points but, nothing is better that the leaders of the enterprise telling you to face to face- why invest in us.

Brokers, mutual fund and hedge funds...never would be too busy to set some time to hear the Codan story. As a small to mid cap, most funds and investors have looked at Codan.
Do they understand the businesses? (Their potential? Risk/rewards? Maybe they have a question they'd like to ask?)

No, they don't. Spending a month or two seeing these potential new shareholders isn't expensive. You could see 10-15 groups in 1 week. 4 capital cites.

Right now all we have is 2 brokers covering the stock...down from 3. Their finding are hidden but, their interest in Codan isn't promoted either.
Why do they like Codan? Why do they have they NPAT estimates?

Talk to the market...the story is good...bring more investors onboard.