I just emailed Trevor Doolan the CFO of company and company...

I just emailed Trevor Doolan the CFO of company and company secretary the following email:-

Dear Trevor,

I am shareholder of ITD with a combined holding of 220,000 shares (100,000 through a company I am the director for and the other holding through SMSF).

I would like to ask you or the board why you have not yet started buying back share on market. As per the announcement on to the ASX on 28 November the company currently has the authority to buyback 17.1m shares but has not yet bought back any shares.

The company share price has languished since the announcement of the delisting on 23 November 2018 and it has not been helped by the company not starting its buyback.

I am aware of the proposal to approve a 50% buyback at the EGM on 8th January 2019. However, due to the 5% rule, I would like to see the buyback start right away.

As things stand, I have voted (online) all my current shareholding of 220,000 against the delisting but for the share buyback. I intend to vote this way, until the company begins the buyback shares in a significant manner and the share price increases until at least the NTA of the company at $0.14 or the price of the shares before the delisting announcement of $0.15.

I have recommended other shareholders do the same on Hotcopper.

I would like company to show good faith in it’s commitment to the buyback by buying back shares before the EGM. Currently there is only a downward pressure of those shareholders not wanting to hold shares in a delisted company with no support of the buyback. The lower the share price gets before you start the share buyback, the lower the chance of the shareholders being able to sell their shares into the buyback at close to NTA due to the 5% rule.

Also, could you express to the board that as a shareholder, my disappointment that it has not presented an offer to shareholders which guarantees a minimum exit price at NTA which is more certain and fair than the option shareholders have now of selling at an almost 50% discount to NTA.

I urge you commence the buyback which you already have approval for immediately in fairness to current shareholders.

Kind regards,