My view on halt, page-35

Main points:
* Bell Potter underwriting the Loyalty Options.
* Rowley and Hackett to take up their Loyalty Options.
* To date, $2.5M in Loyalty Options already converted.
* 100% conversion of Loyalty Options, directly or via underwriting will now occur.
* Completion of CDC acquisition (all conditions precedent satisfied) - by mid to late February.
* CDC to remain as exclusive supplier to Aussie Farms Direct.
* Talk between both parties happening re: expanding trading /product lines in the future.
* Net borrowings, post CDC acquisition (excluding the Convertible Notes) will be $6M.
* Gearing, ditto, will be 15%, not 26%.
* A new, pro forma Balance Sheet is being prepared for market release.