From: Alex Swann

Subject: Could you check this over for me?

Hi,

I’ve been working on a section of our recommendation for Amithist Global and wondered if you could review and
perhaps send back your thoughts via email? Any way you can think of to make the recommendation better
before I send it for final sign off with the Project Director would be really helpful.

[Recommendation to Amithist Global major shareholders – Conclusion]

In summary and in our conclusion, we view the possible acquisition of Amithist Global by Cryogen in a highly
favourable light and one which we support fully and unequivocally, without reservations of any kind.

All short-term indicators look positive. The recent surge in share price reflects the true value of Amithist Global
and, in the event of a bidding war between Cryogen and IronRock, the share price and thus the value of the
acquisition can only serve the existing shareholders of Amithist Global well in the event of a takeover.

We would recommend retaining some of the stock post-takeover, as in our view the accelerated short-term
increase in the share price will take on a momentum of its own. Every short-term indicator we have considered
bodes extremely well for this deal and we therefore have no hesitation in making the strong recommendation
that Amithist Global accept the takeover approach from Cryogen wholeheartedly and with the aim of expediting
a swift and accelerated conclusion.
[End of conclusion]

If you could take the above, make any additions and amends, and then send back to me, that would be really
helpful. Thanks.

Alex Swann
Analyst
Amithist Global share price soars amid
speculation of takeover bid Top Stories
Large-scale fraud uncovered in Brazil

The Brazilian government fights for

survival as impeachment proceedings
begin relating to large-scale contractor
fraud.

EU-wide food safety alert

after toddler death

A major product recall is underway after

dangerous levels of toxin were found in a
leading brand of dried fruit.

Also in the news…

Could your compost harm you?

Shares in leading tech start-up Amithist Global soared in We investigate reports that dangerous
early trading, amid mounting speculation of a second levels of bacteria in compost can harm
takeover bid in three months. human health.

Has the plus-sized lady sung?

Amithist Global has been listed on the stock exchange for
just 6 months, but a possible takeover battle looms. Only
three months ago, Amithist Global were approached by
tech giant IronRock, although the talks ended after a price
could not be agreed.
Now, just three months after the IronRock bid, a second
tech firm, namely US based Cryogen, are rumoured to be
considering an approach.
Regional opera fights for survival as
audience numbers decline and Arts
Council funding dries up.
What people really mean when they say
‘yes’
Yes is not always yes, as our
investigation into the psychology
of acceptance uncovers.

This may have been a factor in Amithist Global share

value soaring in early trading, amid speculation that
Amithist Global could be holding out for a price of £110
per share – 40% above the value they were trading at
only yesterday.

Aggregate Capital’s lead analyst, Paul Kronnig, believes

that “Amithist Global is hot property in the tech world,
and with increasing market penetration in some emerging
markets, performance expectations are high.” The key
question, Kronnig adds, is whether the Cryogen approach
will force IronRock back to the table, in which case “All
bets are off, a bidding war could push the share value
through the roof.”
 From: Rita Sanjeet
Subject: Amithist Global Post-IPO performance

Hi there,

I’ve collated some key data for you in relation to Amithist Global and their performance over the last 12 months,
as well as some interesting insights into their predicted performance.

These predictions come from a number of sources – some, such as their revenue predictions, have been collated
from the average of a number of analyst estimates. Market share comes from our wider market analysis which
has been conducted internally. Economic regional growth estimates are an average of predictions from the IMF,
OECD, and World Bank.

I hope you find the information helpful. It’s attached below for you.

Many thanks,
Rita

Rita Sanjeet
Analyst