Ann: Change in substantial holding - T Goyder, page-4

The way I read this it is just a statement of fact concerning the dilution TG has been exposed to by the issueing of the 202.million new shares. His percentage has dropped from 15.04% to 13.71%. However, I dont think the $10million dollars he has comitted to spend to purchase shares is included in this announcement. I presume that when this occurrs his percentage will return to in the vicinity of 15% again.

His 15 % although not as large as Gina's 19.9% is critical not just for him but all holders who dont want us taken over, unless its on very favourable terms. In other words Terms that TG accepts. His 15% can be used to block a hostile predator from achieving 90% and as a result it can prevent the mandatory acquisition of all shares. Despite the BS some of the non holding prophets have been spruiking in the last week about LTR being taken over for a low ball price with Gina coming in to swoop after a period of lower pricing, it is nearly impossible for any prospective purchaser ( her included) to get their offer agreed to without the support of TG + his loyal associates both at board level and I have no doubt many loyal shareholders on this forum who owe him so much.

Remember Tim's words from the AGM a few years ago when he said words to the effect.

"Put your shares in your bottom drawer and leave them there. You will be well rewarded"

DYOR Not financial advice.