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Why? Net assets �10mil Cash �1.2mil BV Tech 54% ownership (They've invested �2.8mil in Defenx) Takeover would still be completed for at least 160p/share at the moment Ask yourself why BV Tech would buy so many shares and then let it rot? We need to be patient. I'm not going anywhere.

This is what happens when you only have 35% freefloat.

People seem to have short memories, BV Tech have bought 54% of Defenx. Are they really going to sit back at let it rot? Current share price doesn’t concern me, BB Tech will continue to invest in Defenx and there will be news flow with new appointments, strategy and contracts with existing BV Tech customers.

Mkt cap £5mil, £1.25mil cash plus £10mil assets. Undervalued IMO, but so few shares in free float it can go back up just as fast. I won’t be adding more, just sitting on my investment here and waiting for my 35p target.

Nothing has changed, they are going through a transition and investors are getting bored. We all know things haven't been rosey. but i've invested here for the turn around.

We are encouraged by the sales pipeline and recent wins including a new contract to deliver enterprise cloud to an existing customer and leader in digital solutions for the professional adviser and SME markets in Italy. Invoicing is expected to start in the second quarter and we hope to grow the sales and operational team once the Group's finances have been stabilised.

Doubt it will affect the share price, but all good moving forward. Would be nice to find out what This Defenx 2020 strategy is other than selling direct to businesses, unless that�s all it is!

Tony Reeves is no mug, previously just a non exec, now taken on full role which he wouldn�t do if he didn�t have confidence in the company.

Well that positive, somehow managed to convince Tony Reeves to take on a full executive role.

Apologies, you are correct, they are now in a position to buy at the highest price paid in her previous 12 months.

Rule 9 was wavered for the open offer share acquisition, it�s in the RNS, they can now buy more shares at the market rate. Still not sure how a takeover would happen now. They don�t have to make a general offer, assumingly they can either buy from the market or make a general offer. Does anyone know what the thresholds are for them to update the market on any new share purchases? Or does that come under rule 15?

That�s all in the last calendar year. Their avr is 19p, so they are sitting fairly pretty at the moment.

Summary of BV Tech investment in Defenx, read this and tell me BV Tech haven't had a long term agenda to buy this company! HOLD. 1,982,222 shares at 114p (Sale of encrypted communications software to Defenx) 861,666 shares at 114p (£980,000) 300,000 Conversion Shares at 114p (£342,000) 336,500 shares at 114p from Safe Active Srl in an off-market transaction. (£383,610) 156,250 shares at 160p (£250,000) 11,776,888 shares at 0.08p (£942,000) 15,413,526 shares 54.74% Ownership (£2,897,610) total cash cost Average £0.19 per share Current Mkt Cap £4,100,000 (52 week high Mkt Cap £22,400,000) Current assets £10,000,000 Current value of BV Tech share holding £2,244,340

Must be this week, new board appointments, Defenx 2020 update, final results and annual report all due.

£13k buy just gone through.

The open offer increased the total number of shares in issue but reduced the number of shares available in free float. >60% of shares are owned by board members.

Never takes much to get this going

We will see the annual report and final results published soon, so news will be forthcoming. Just need to hope that the good news from BV Tech outweighs last years results, which I�m confident it will.

Expect news flow, still waiting for board appointments too.

Not sure if i'm missing something here? Thought the RNS was positive, whats the cash position, only concern is that it did seem a bit dodgy - I never like it when they mention sales pipelines and potential contracts, normally means theres a placing on the way.