Ann: Market Update, page-41

Harrindimill,

Can't help you with an up-to-date list of the top twenty shareholders. The most recently published list (Sept. 2017) was the one attached to the 2017 Annual Report.

That list showed that the top twenty holders held between them 39.97% of the ordinary shares in the company. Allowing for the fact that there would be some in the list who did not support the changes that went through at the General Meeting in May, then those who promoted these changes must have had a strong reach and sway over those who are outside the top shareholding group. I say this as they were able to have 60%+ of the available votes to present to the meeting that were in favour of their resolutions. (the proxy votes lodged)

I'm wondering if you are thinking what I am thinking, which is this: Optiscan has developed their 'Convivo' and Carl Zeiss have built their technology around it. Why then don't Carl Zeiss make a takeover offer for the company? No doubt key personnel could be retained by offering sufficiently attractive remuneration packages etc. Or can it be that those who can organise to muster 60%+ of shareholder support can also organise a like amount of support to resist such a bid, having in mind that eventually the value of Optiscan must be realised once all approvals have been granted and production and acceptance of the technologies are in place.

In the meantime, we wait.

MM