Ann: Appendix 3B, page-23

He’s South African - stubborn and arrogant are national characteristics . ( I spent my first 25 years in South Africa).

I feel a bit sympathetic towards him. He’s chopped around a bit but seems to have liked the idea of leading IDX to more successful outcomes. Only been in the job 7 months, but doing good things (although helped by a broad recovery in imaging), when a bid lobs in that is going to put him out of the job (I assume).

You are left wondering though whether he is really assessing what is best for the shareholders, or what he wants to carry on doing? As I said I found his assessment of how quickly AI was going to become important and what CAJ was actually doing quite ignorant. He almost implied that CAJ was developing AI and it should be left to Silicon Valley, without understanding how CAJ was involved, which is more strategic investment and providing big data.