Ann: Strategic Alliance with MilkTestNZ, page-4

Pis

Pisces,

I read your discussion on the STT thread on the weekend. It may sometimes seem that you get nothing from contributing to HC, other than occasional grief. That is not the case. Respect cannot be bought. It is earned. You have respect from many in the community who, I dare say, are thankful for your contributions based on decades of experience gained in the markets.

On that note, was wondering if you had any thoughts around Analytica/HRL's 26% shareholding in CAIQTEST Pacific. Seems to me there is quite some potential here as well. I'm not trying to get into a confirmation bias positive feedback loop here. Simply that the more I research, the more I see a fundamentally very sound - and profitable - growth opportunity. Would appreciate your thoughts.

CAIQTEST Pacific is a laboratory testing company based in the Ruakura Research Centre campus in Hamilton, New Zealand. Located in the heart of Waikato’s science community, we pride ourselves on our capability to solve problems for our clients, and our ability to meet the needs of a wide variety of stakeholders and their respective circumstances.​

Two of our more notable shareholders are CAIQTEST China (one of the key government-owned official testing labs in China) and Analytica Laboratories in New Zealand.​

We work with many companies in New Zealand, Australia, and the Pacific. The purpose of our laboratory is to facilitate the smoother export of goods from New Zealand, Australia, and the Pacific, to China. We work with many of these companies to fulfill Chinese food safety requirements, by providing testing certifications prior to the shipment of goods. These tests and certifications will be specifically tailored to fulfill CIQ customs officials, allowing the relevant goods to be accepted into China.​