In the past I could live with John Simmonds initiatives that didn't work out (Azonics/Midland phones, acquisition of Westcan & AlCan, and acquisition of RELM for example) because I always felt that he was working for the shareholders best interest and he was heavily invested in WLSA himself. He was also an active buyer of WLSA stock. There also were his successes. Although it was before my time with WLSA, I believe he was responsible for the acquisition of the retail division. There was also the acquisitions of Maxtel, Knowlton Pass, Marlon Distributors, Prime Battery, and mmWave. Regardless of what has transpired since, these were all viewed as positives for WLSA at the time.

When he recently returned as interim CEO, I thought we were returning to the style of the past (more positives than negatives), which I could live with. However, it is painfully clear that this is not the case. The long-term, loyal investors in WLSA obviously are not happy with the proposed sale of WLSA assets to New Look. It leaves us in too vulnerable and risky a position. I don't view this as acting in our best interests.

In addition, I am not happy with the changes that were made to the makeup of the Board of Directors. I don't see enough independence here.

What I would propose is that Allen Cowie be named the new CEO and that a new Board of Directors be named with only Brad Poulos being retained from the current Board. He is a valuable asset to WLSA with a lot of knowledge and technical experience in the wireless industry, and especially in mmWave. During his tenure as CEO there were mistakes, but there was also excellent organic revenue growth in both the retail and mmWave divisions (more positives than negatives).

My question is how do we add this proposal for a new CEO and Board of Directors to the New Look ballot that is being prepared for the shareholders to vote on?

Brad Herrin