Ann: Reduction in Earnings Guidance-AJA.AX, page-2

Was a bit concerned with the headline. Then read the positive announcement.

Originally forecast approx $33M profit (at rate 82)
Now forecast approx $30M profit (at rate 85.5) after paying performance fee of $4-$6M.

Original forecast was JPY 2.7B
Now forecast as approx JPY 3B before performance fee

And 3B at todays rate of 78.15 is 38M profit before performance fee.

Things are looking up. And holding approx $63M in cash. Is that working on the rate of 85.5?? If so that is at $69M at todays rate.

Now make us happy and give us some of that cash back.
Or get that money working for us through a purchase that returns atleast the same or better than the current portfolio returns.

Happy long term holder.