Ann: Notice of General Meeting/Proxy Form, page-26

@ daz1982 - what do you think the PE of SW1 currently is?

Given all the deals announced over the past 6 - 12 months, and also now the MM acquisition, it is hard to know what the PE will be at 30 June 2019.

However, it is pretty clear that the gross margins are continuing to significantly improve, and that the expenses are only increasing slowly (with these expenses obviously including wages), therefore this business looks to be in pretty good shape IMO.

I understand that you think Xavier and Co are paying themselves too (I think this figure is approximately $1.0m per year between the CEO / CFO and all the other Directors), and I understand that you also have an issue with the so called "Performance Shares" (although I understand these shares were issued as part of an earlier acquisition - and are not really performance shares).

What I don't understand is why you keep coming onto this SW1 board stating the same things over & over & over?

Could you please tell us why you have such low regard for the management of SW1, or why you have such low regard for the company? And please don't say again that it is because they are paying themselves too much. Is it somehow personal?