Ann: RIC Presentation Credit Suisse & FNZC F&B Focus Day, page-2

Interesting emphasis on Packaged Products in the presentation. Probably the highest margin part of the business.

I remain surprised RIC has not extended into the domestic dog and cat food business, though they would come up against the big marketers. Domestic dog and cat foods incorporate a lot of grain for bulk, in contrast to the Cobber working dog food which is pure protein. (RIC has fabulous access to grain of all types and qualities)

I am a happy shareholder, topped up recently on Novacq announcements.

Last mention of Moolap land developments had the Vic government strategic plan out 1Q17. No sign of action. Current plans for a big sporting precinct are unimpressive, perhaps the Socialists in Spring Street have a better idea. Geographically, this is a large, super-prime site: beachfront in the heart of Geelong that begs for a visionary, transformative water-related development in conjunction with Alcoa's Point Henry land.

Ash