Ann: Becoming a substantial holder from IFL, page-28

The answer is no. It generated $19m of revenue in the last financial year but likely produced limited cash flow. Investors haven’t seen a cash flow statement so we don’t know. The business borrowed $8m to finance a plant expansion. This debt was repaid as part of LON’s acquisition. The expectation is that the expanded capacitor will allow the business to lift sales materially - higher sales, expanding margin, positive cashflow. That’s the plan