Ann: Change in substantial holding, page-6

No, I don't think it unreasonable that the price may go down post 5 march. For retail holders it may make good sense to sell and see. Likely where most of the 5% has come from so far.

For your information these are the people they need to convince to kick the board (no problem if they do) - but they aren't likely to hand it to Allens for $2.70 or they would have done so already.

Top 20 Shareholders as at 31/07/2018TRS

	Shareholder	Effective Date	Capital (%)	Shares	Notes
J P Morgan Nominees Australia Limited	31/07/2018	16.98	4,900,980
Citicorp Nominees Pty Limited(I)	31/07/2018	13.81	3,986,201
HSBC Custody Nominees (Australia) Limited	31/07/2018	11.57	3,338,215
National Nominees Limited	31/07/2018	3.00	867,196
Citicorp Nominees Pty Limited	31/07/2018	2.18	628,000
Neweconomy Com Au Nominees Pty Limited	31/07/2018	1.84	530,191
Brispot Nominees Pty Ltd	31/07/2018	1.42	409,488
BNP Paribas Noms Pty Ltd	31/07/2018	1.34	387,243