Ann: Trading Halt, page-13

I like what they have done here. It’s a cheap way to scale with already trusted retailers. A great move in my opinion. Brings yearly revenue to above $40m and a database above 50,000 customers, as Keong quotes in the AFR.

Keong highlighted in the AFR that KiwiBuy approached them as dealing with everyday products wasn’t worth the effort but they have the customers and database to make it work with high margin products. Which is why they took partial stock in the deal.

They will now fill these trusted stores with high margin own product along side the Chemsave push I think it further adds legitimacy and eyes to all their products. It also allows them a quicker way to scale va waiting in store fit out.

The strategy is making sense and coming together nicely. I trust management. I trust the Flannery family would not be baking mugs. I continue to accrue and think these are great levels for a Med - Long term trade.

Good luck