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BluGlass Business Update

Highlights:
  •  Laser Diode business progress
o BluGlass has engaged Laser Diode customers to develop test products for delivery end of CY2020.
  •  repeat customer revenues anticipated to commence early CY2021
o RPCVD tunnel junction laser diode structures show promising performance potential.
o BluGlass’ US test facility nears completion.
o Global supply chain build-out continues to progress despite COVID-19 challenges.
  • BluGlass announces capital preservation measures
o Non-Executive Board take 50% of director fees as shares (subject to shareholder approval) to end FY2020.
o Senior management team take 50% of salary as shares, for the same period.
  • All other staff to take 25% of salary as shares.
  • Board and Key Executives have committed to take up their full entitlement under the rights issue.
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