Ann: PET Board Changes, page-10

Hi Mickem.

The AGM presentation indicated only one third of the revenue would be in the first half of 2018-19 (slide 3), so $9-10 million. However, what PET does in the first half of 2019 depends on whether the current forecast for 2018-19 of $27-30 million is accurate. If we did $20 million in the first half of 2019 then as you say $40 million might look achievable in the new accounting year of calendar 2019, but we have to wait to see whether we pick up some more contracts to make that likely. I agree that on the track record we presumably get a forecast for calendar 2019 in February.

I think Rob needs to keep oversight of China as well as international, so I would favour appointing someone under him to push the international business as we get larger. We need to have close supervision of the Chinese business, particularly if we are identifying and integrating new purchases and developing new products as is the intention.