Ann: Becoming a substantial holder from SNC, page-82

Simple.

1. New MD - yes, read Announcment below
2. Cash flow positive - yes, read Announcment below
3. Related - Yes, as you said


ASX Announcment 8th March 2018

Alterra Limited (“Company”) is pleased to confirm that Executive Director Mr Andrew McBain has
been appointed Managing Director effective immediately.
Mr McBain was the lead founder of Alterra Ltd (formerly Carbon Conscious Ltd), overseeing the Company’s listing on ASX in May 2008 and was appointed Executive Director in July 2012.
Since becoming Executive Director, Mr McBain has successfully turned the Company around from a position of having negative cash-flow and short-term debt and liabilities exceeding $7 million; to the generation of annual positive cash-flow of approximately $1 million and net tangible assets of circa $5.3 million; while minimising shareholder dilution.
With the change of name to Alterra Ltd and repositioning of the Company now complete, Mr McBain has been tasked with identifying new opportunities and transitioning the Company to its next stage of growth.
Key terms are summarised in the schedule to this announcement. Issued on behalf of the Board of Directors.

All the best. Have a nice afternoon.