Ann: Change of Director's Interest Notice, page-5

No - no hidden flags. Tesserent irrationally cheap. Compare it to family zone market cap above 50 million. Tesserent a better business than Family. Zone.

Tesserent has no debt.

Tesserent has not focused on marketing itself to the investment community. Actually a good thing for people wanting to acquire stock like me. Tesserent took more of a technological approach to the business.

Sooner or later a bigger investor will see Tesserent is a quality business, beaten down in price by the share market.

In the long run Tesserent’s price will be in harmony with its intrinsic value (the motto of the value investor. In the short term markets often get it wrong - usually overpricing a stock - but in rare occasions seriously undervaluing a business like Tesserent. It can’t last forever.

Can see Tesserent above 20c by end of year.