The Directors consider that it is appropriate to evaluate this proposal and to accomplish this in the context of both identifying any alternative offers and undertaking a review of internal growth projections and other opportunities to create shareholder value. The Directors have confidence in the Company’s ability to increase earnings per share and shareholder value based on our intellectual property and strategic positioning of the Tecsound and Austco divisions.

TSV will advise shareholders of developments relating to these discussions in due course.

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