Ann: Results of Meeting, page-6

If you invest in ASW, the medium term goal for us shareholders is to wait for ASW to convince SOL to move the registry of all of their associate companies to ASW.

There are a number of relatively big companies in the SOL stable that if they move to ASW, they will become big clients for ASW, such as NHC, BKW, API, TPM, etc.

The longer term goal is what happens when Kim Chong one day retires. There is a small probability that ASW will be taken over by one of the larger players.

A few years ago Link bought approximately 10% of ASW for $0.70 per share. I imagine $0.70 is the floor price that we can expect in the event of a takeover and Link is probably the leading candidate.

In the meantime, I get paid 5% fully franked dividend while waiting for something to happen.

I should also mention that in the recent past, there has been a new competitor, Automic, that has been quite aggressive and they've been winning quite a few new clients that are in the same target market of ASW.

This probably partly explains ASW's results going backward in the past 12 months.