Ann: Appendix 4E Preliminary Final Report, page-6

AO, credit where credits due mate.

Clearly this year has been pretty frustrating for shareholders and at times that boiled over.  However this demerger clearly acknowledges that the company can do some things to try and return real value to shareholders.  That is, revenue is revenue and a profit is a profit... if the market and yourself won’t acknowledge the value of the companiy’s Carbon assets then they can literally return CASH to shareholders.  Your or market opinion will have ZERO influence in that outcome.

Once the demerger goes through, the company still has premium land that has appreciated in value since purchase plus a couple million dollars in the bank.  They can sell the land or raise capital to pay off loan or whatever makes best sense.  Net effect is, I’ll be likely getting dividends plus a good shot of success in a aggressive growth strategy dairy business. 

I think management are doing the right thing here and appreciate this new initiative.