Ann: Half Year FY21 Results Summary, page-2

Kudos to Cowan for volunteering to step down as Chair - most would have dug their heels in and collected their NED fees regardless of suitability. However, the transformation of the business requires a step change with someone US based ideally taking the reigns given that is the key market the business is focussed on / operating in.

$0.27 NTA so still a lot of downside protection here. Bring on the sale and leaseback / off take of the Kapua orchard - probably the next catalyst enabling repayment of the remaining AMD con notes.

New debt facility a positive - never understood the Greensill facility, way too expensive.